and are on high alert after it emerged are yet to speak with Reece James over a new contract.
The defender, 22, has become a mainstay at Stamford Bridge, making over 120 appearances since breaking into the first-team in 2019.
He still has three years remaining on his contract but, despite his strong form, has not received an increase on his current £70,000-a-week wages.
According to the , Chelsea’s reluctance to put up James’ salary has encouraged potential suitors to look closely at the right-back.
The report goes on to say that James would prefer to stay with the Blues but could depart if he begins to feel undervalued.
Man City boss Pep Guardiola is thought to view the Englishman as a potential long-term replacement for Kyle Walker at the Etihad.
Meanwhile, Real Madrid manager Carlo Ancelotti needs a new full-back with Dani Carvajal entering the latter part of his career at the Bernabeu.
James has been at Chelsea ever since joining the club’s academy at the age of six. He was part of the squad which won the Champions League last year and has been an FA Cup runner-up with the club three times.
He has made 11 appearances in an England shirt and won the European under-19 Championship in 2017.
Speaking earlier this year, Thomas Tuchel praised James for his versatility and revealed his desire to clone the right-back.
He said: ‘I would love to have two of Reece James, that would solve the problem, it’s like 50% towards wing-back and 45% towards the back three.’
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