Real Madrid have told Manchester United and Chelsea that £20m will get them defender Raphael Varane, according to reports.

Varane has long been a target for Chelsea boss Jose Mourinho, who worked with the 21-year-old during his time with the Spanish giants, while Manchester United are thought to be in the market for defenders this month.

The Express claims that both sides have been readying bids and have now been told that an offer of £20m will be enough, with the Frenchman playing less than expected so far this season, and the La Liga side keen to offer fellow centre-back Pepe a new deal as well as promote home-grown player Nacho.

Varane has made 17 appearances for Real Madrid in all competitions this season.