The Spaniard, who went on to play for Schalke in Germany after leaving Real, had an offer from Chelsea.
However, Raul was said to be very happy at Real at the time, given he was a talismanic figure.
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Raul's then agent, Gines Carvajal, said: Many English clubs asked in the past for Raul, but the only formal proposal was the one of Chelsea.
(Then Chelsea manager Claudio) Ranieri wanted Makelele and Raul. So the same people of Chelsea who negotiated for Makelele made contact with me and Madrid.
They offered 100 million (then a world record 70 million), but Raul didn't consider the offer because he just didn't think of leaving Madrid.
I believe that generally clubs know that Raul is the captain of Madrid and, as it happens with players as (Ryan) Giggs, they know that there are not many options for them to change clubs."