The buildup to the summer transfer window has now begun, with rumours and speculation continuing to swirl as Real Madrid eye possible reinforcements.
Florentino Perez oversaw a significant overhaul of his squad during the summer before focusing more on youth in January. As is always the case with Madrid, though, some of the biggest names in football continue to be linked.
Here, Sports Mole rounds up the latest news of possible comings and goings at the Bernabeu.
Thursday morning's Real Madrid transfer talk news roundup:
Real Madrid value Arsenal target Dani Ceballos at £23m?
Arsenal have reportedly been informed that it will take a bid of £23m to sign Real Madrid midfielder Dani Ceballos.
While the Spaniard has endured a mixed campaign on loan at the Gunners, the 23-year-old has emerged as one of Mikel Arteta's key players since the resumption.
Six starts and two substitute outings have been made since June 17, with the player's performances convincing Arteta to make an effort to keep him at the Emirates Stadium.
However, according to Marca, Arsenal will have to shell out £23m if they wish to sign Ceballos on a permanent basis.
Although he does not feature in the plans of Los Blancos boss Zinedine Zidane, Ceballos still has three years left on his contract.
Valencia and Real Betis are also said to be monitoring the situation.
Manchester City 'join Manchester United in Ferran Torres race'
Manchester City have reportedly joined the race to sign Valencia winger Ferran Torres this summer.
City have been given the green light to press ahead with their summer transfer plans after successfully appealing against their two-year ban from European competition, with the Court of Arbitration for Sport ruling on Monday that they can compete in next season's Champions League.
Manager Pep Guardiola is set to undertake a significant overhaul of his squad during the upcoming window as a result, with Man City looking to close the gap on runaway champions Liverpool.
Marca reports that Torres is among the players on Guardiola's shortlist, with the 20-year-old's contract due to expire next summer.
A host of Europe's top clubs are expected to provide competition for his signature, though, including Manchester United, Real Madrid, Juventus, AC Milan, Napoli and Borussia Dortmund.
City are in the market for a new winger after selling Leroy Sane to Bayern Munich, while they have also been linked with moves for Kalidou Koulibaly, Lautaro Martinez and David Alaba.
Torres has scored six goals and registered seven assists in 42 games across all competitions this season.
More transfer news from Real Madrid:
Real Madrid are reportedly confident that Kylian Mbappe will reject a new contract offer from Paris Saint-Germain in order to force through a move next summer. Read more.
