Portuguese has now been made surplus to requirements by los Blancos.
Tottenham Hotspur are still confident of capturing Real Madrid defender Fabio Coentrao on a season-long loan, according to reports in the Daily Mirror.
The highly rated Portugal international has been told that he now has no future at the club by new Madrid head coach Carlo Ancelotti, with the Liga giants having been offering the 25-year-old to a number of clubs across the Continent of late, including to Premier League champions Manchester United as well.
However, it is understood that despite los Blancos being desperate to offload the attacking full back before the summer transfer window slams shut for business for the year at midnight on Sept 2, the Spaniards will only agree to let Coentrao depart the Santiago Bernabeu for a fee of £15 million.
And that is because Madrid splashed out a whopping 30m euros to buy the left back from Benfica two summers ago, and so are keen to get back as much of that transfer fee back as possible this summer.
So far, though, there have been no parties interested in signing Coentrao for that figure, giving the north London club hope that they may still be able to persuade Madrid to loan them the Portuguese for this campaign, before a reaching a permanent deal for the player next summer.