Joselu, 34, is currently on loan at Real this season from Espanyol.
Real Madrid paid 500,000 for the loan and has a purchase option of 1.5m.
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Relevo says United are showing interest in the former Newcastle and Stoke striker ahead of the summer transfer window.
Joselu has scored 13 goals and provided three assists in 38 competitive games this season, 13 of which were starts.