Manchester United and Chelsea are battling for Valencia's £45 million striker David Villa.
The Daily Star says Real Madrid have not met Valencia's asking price and they want to talk to United and Chelsea about their offers.
Chelsea are understood to have tabled a £40m offer for the Spanish international.
But with Carlos Tevez set to leave Old Trafford, Sir Alex Ferguson would like Villa as a replacement.
The main problem United and Chelsea face is the Euro 2008 top scorer's reluctance to quit Spain.