Los Blancos have seen a couple of experienced faces leave this summer, with Toni Kroos retiring and Nacho Fernandez swapping La Liga for the Saudi Pro League.
However, they have still managed to agree new one-year deals to retain the services of full-back Lucas Vazquez and midfielder Luka Modric.
With Vazquez and Modric set to stay for the 2024-25 campaign, Real Madrid are now looking to agree new contracts with two more senior members of Carlo Ancelotti's side.
Real Madrid close to agreeing two new contracts
According to AS, Real Madrid are close to extending the deals of Carvajal and Mendy, who are both out of contract next summer.
The European champions view Carvajal as the best right-back in the world and are being particularly careful with his renewal.
Los Blancos tend to offer one-year extensions to players over the age of 30, which would apply to the 32-year-old Carvajal.
However, there is a suggestion that Real Madrid could extend Carvajal's deal until at least 2026 because they believe he has the ability to maintain a high level for the foreseeable future.
The Euro 2024 winner has featured in 416 matches for Real Madrid, helping the club win 25 trophies, including six Champions League winners' medals and four La Liga titles.
Will Mendy's new deal affect Davies's pursuit?
Real Madrid have been heavily linked with a move for Bayern Munich left-back Alphonso Davies, but it seems they will wait a year to sign him on a free transfer next summer.
Los Blancos are still expected to push to sign Davies next year despite being on the verge of tying Mendy down to a new contract.
Although Davies is set to arrive in 2025, the Spanish champions are expected to extend Mendy's deal until the summer of 2026.
Ancelotti remains a huge admirer of Mendy and will continue to use him as his first-choice left-back for the upcoming season.
The Frenchman has made 170 competitive appearances since joining Real Madrid from Ligue 1 side Lyon in the summer of 2019.