Mourinho will look to conduct a Bernabeu raid with a move for left wing-back Fabio Coentrao to act as a long term replacement for veteran English defender Ashley Cole.
The Chelsea boss is ready to offer as much as £18m for a player that Carlo Ancelotti is happy to listen to offers for, Tottenham are also said to be interested in the former Benfica man but have thus far only offered to spend £13m on the 25 year old.
Coentrao has had an up and down time of it since making a big money move to the Spanish capital, signed by Mourinho in July 2011, and could be tempted to reunite with his former manager and a fresh challenge in West London.
The attack minded wide-man could well be an ideal replacement to replace 32 year old Cole who signed a one year contract extension at the end of last season.