Real Madrid transfer news: Rodriguez likely to leave, Reguilon in Chelsea talks, Kubo wanted by Bayern

Real Madrid remain on course for a Spanish and European double as they prepare to lock horns with Manchester City in the Champions League last 16.

Los Blancos pipped Barcelona to the La Liga title last month but trail Man City 2-1 ahead of Friday's second leg at the Etihad Stadium.

Despite having plenty still to play for on the field, Madrid already have one eye on the transfer window as they look to strengthen their squad.

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 'reject Bayern Munich loan bid for Takefusa Kubo'

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After a solid return in his first year in Spanish football, young winger Takefusa Kubo has been tipped for big things at Madrid.

Kubo caught the eye on loan with Real Mallorca and could be part of Zinedine Zidane 's first-team plans next season.

However, Bayern Munich are said to be eyeing up a move for the Japan international, with a £4.5m loan offer being tabled.

According to Spanish outlet AS, Los Blancos have knocked back that offer as they have big plans for Kubo.

James Rodriguez likely to leave Real Madrid for Atletico Madrid?

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Perhaps a more well-known name around the Bernabeu is James Rodriguez, who looks certain to depart the club this summer after slipping way down the pecking order.

A number of Premier League clubs have been tipped to move for the Colombia international this summer, but El Golazo de Gol claims that he may yet remain in the Spanish capital.

That is due to Atletico Madrid registering an interest in Rodriguez, with Diego Simeone said to be a fan of the attacker.

The same report indicates that Madrid president Florentino Perez is happy to green light the transfer, which could be worth around £13.5m.

Chelsea make progress in race to sign Real Madrid defender Sergio Reguilon?

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Sergio Reguilon is another player who faces an uncertain future at Madrid, having spent the 2019-20 campaign on loan with Sevilla.

The full-back is behind big-money signing Ferland Mendy in the pecking order and is believed to be seeking a move away, possibly on a permanent basis.

ESPN reports that Chelsea are the clear frontrunners to sign Reguilon, although they could face competition from fellow Premier League side Everton.

Madrid are supposedly seeking £22.5m for the 23-year-old, who has made 22 first-team appearances for the club.