Real Madrid were reportedly offered the chance to sign a Manchester City star in the final days of the January transfer window.
Portugal international Joao Cancelo made a surprise loan move to Bayern Munich this week after a reported falling out with manager Pep Guardiola.
Pep Explains Shock Decision To Allow Man City Star To Leave
Transfer journalist Fabrizio Romano has now reported that the Portuguese full-back was offered to the European champions, who said no.
"Barcelona was almost impossible because of the salary of the player," Romano said on the CaughtOffside Podcast.
"Real Madrid was also an option, but they decided not to sign any players in January."
Los Blancos manager Carlo Ancelotti has explained why the club did not make a move in the transfer market.
"We didn't dip into the winter market because we didn't need to," the Italian tactician told members of the media, as per Goal.
"If you plan your squad well in summer, then you don't need to use the winter market.
"When you sign in January, it means something has happened, which could be an injury, but we're fine."
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