Real Madrid will reportedly choose to part ways with Dani Ceballos on a permanent basis if Zinedine Zidane remains in charge.
At the beginning of the campaign, Ceballos was allowed to move to Arsenal on a season-long loan deal after falling out of favour at the Bernabeu.
Although the Spaniard is due to return to Los Blancos later in 2020, it is unclear whether he will be welcomed back into the first-team setup.
According to Marca, only Zidane's departure will lead to the 23-year-old continuing his career at the La Liga giants.
Ceballos allegedly acknowledges that he will never be regarded as an important player while Zidane holds the senior role in the dugout.
Valencia have recently been linked with an approach for the former Real Betis man, who still has three years left on his contract.