Real Madrid are reportedly ready to offer Eduardo Camavinga in a player-plus-cash deal to sign Borussia Dortmund star Jude Bellingham.
Camavinga has recently been linked with a potential move away from the Santiago Bernabeu, with Arsenal said to be interested in recruiting the 20-year-old on loan.
However, Camavinga's agent Joshua Barnett recently stated that his client is "very happy" to remain with Los Blancos and is not seeking an exit from the club this month.
Speaking to journalist Fabrizio Romano, Barnett said: "There's no truth. Of course every club in the world would want him, but he's very happy in Real Madrid and Real Madrid are very happy with Camavinga."
Manager Carlo Ancelotti, meanwhile, has also affirmed that the Frenchman remains part of his plans, telling reporters: "We will not let Camavinga leave, he's untouchable – like [Luka] Modric and Toni Kroos."
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Nevertheless, speculation continues to swirl surrounding Camavinga's future, with Sky Sport Deutchsland, via The Sun, claiming that Real Madrid will consider including the midfielder in a big-money deal to sign Bellingham.
The report adds that Los Blancos are not prepared to meet Dortmund's £135m asking price for Bellingham after forking out around £60m on 16-year-old starlet Endrick from Palmeiras, but they are prepared to pay as much as €100m (£88m) plus Camavinga.
Real Madrid are said to be 'desperate' to fend off interest from Premier League clubs in the race to sign Bellingham and hope that their player-plus-cash deal can persuade Dortmund to sell their star man.
Bellingham is one of the most sought-after midfielders in world football, with Los Blancos set to battle with Liverpool, Manchester United and Manchester City for his signature.
The 19-year-old has spent the last two-and-a-half years with BVB scoring 20 goals and providing 22 assists in 113 appearances, but he is now said to be keen on making the next step in his career.
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A recent report claims that Bellingham will reject the chance to sign a new long-term contract with the Bundesliga club, as he seeks for a move away from Germany this summer.
Real Madrid are also believed to be Bellingham's preferred destination, with the midfielder's representatives having already informed the Spanish giants of his desires to move to the Bernabeu.
Ancelotti recently played down suggestions that Real Madrid are plotting a big-money move for Bellingham or any other high-profile midfielder ahead of the summer window, telling reporters: "There are a lot of youngsters, like Enzo [Fernandez], and a lot of midfielders who are coming through, some of them Spanish.
"Bellingham is one of them, but I'll stick with my midfielders, who are very good, especially the youngsters, like [Federico] Valverde, [Eduardo] Camavinga and [Aurelien] Tchouameni. We have a lot of young players."
Bellingham, who has played in every minute of Dortmund's 16 Bundesliga matches so far this season, is under contract at Westfalenstadion until the summer of 2025.