2) Real Madrid
You cannot discount the player staying at his current club and seeing out his contract, which expires in the summer. He is able to talk to new clubs from January, and could hold off on a move if he is unsure – particularly if the club in question is not guaranteed Champions League football the following season.
Madrid themselves are blessed with a hoard of attacking players, but would perhaps regret losing Khedira, having already seen Alonso depart in the summer. His departure would certainly leave them short in holding players, capable of producing the goods in the big games.