Real Madrid are willing to offer Gonzalo Higuain as part of a deal to try and pries Sergio Aguero away from Manchester City, according to Marca.
Real are known to have been chasing Aguero for some time and were at one stage favorites to sign him when it became obvious that the Argentinian would leave rivals Atletico Madrid in the summer.
Manchester City got the deal done then, but it appears that Real maintain an interest.
Marca claim that Real was Aguero's preferred choice in the summer, but that the club were distracted by their failed attempts to sign Brazilian star Neymar. It would appear that Real now regret that decision not to focus on securing Aguero.
And with fellow Argentinian striker Gonzalo Higuain reportedly becoming disgruntled at having to split playing time with Karim Benzema this season he would seem be open to a summer move.
Real however, value Aguero at the same price City paid for him, €45 million, giving City no reason to contemplate a deal. Much could depend on how highly Real and City value Higuain, with City sure to want a significant transfer fee paid in addition to his arrival.
It is easy to see why this would be an appealing transfer for Real Madrid. Though Higuain has an impressive goal record in his time at Real, including 17 goals already this season, he has never been viewed as a true star in the Spanish capital. A role that Aguero would almost certainly fulfill.
But it is hard to see how the deal would be attractive for Manchester City. Aguero has been a big hit at the Emirates since his big-money summer move, hitting 16 goals in the Premier League so far this campaign as City have risen to the top of the table.
For a deal to happen, it may well take Aguero to make it known that he wants a move back to the Spanish capital and actively push for a transfer.
Higuain has also been the subject of a number of transfer rumors of late. Reports have linked the 24-year-old with potential moves to Paris Saint-Germain and Inter.