Cape Town - Carlo Ancelotti will reportedly let France international defender Raphael Varane leave the club next season.
The Express report that Real Madrid want £19 million in order to part with Raphael Varane at the end of the season.
Varane has played a limited role at Real Madrid this season with Sergio Ramos and Pepe cementing their places in the heart of the Los Blancos defence.
Despite being a full international with France, the 21-year-old defender will reportedly be allowed to leave Madrid in the summer.
Manchester United were interested in Varane before the player opted to join Madrid in 2011 but could rekindle their interest in the young star in January.
The Red Devils would face stiff competition from Chelsea for the Frenchman's signature as Jose Mourinho has previously had a successful working relationship with Varane.
Chelsea are still looking to find a long-term replacement for John Terry and a summer move for Varane could yet be the solution to their problem.
Varane has made 106 appearances in four seasons with Madrid but has started just three times in La Liga this term.