The defender's current contract with Los Blancos is set to expire in 2022, and the club believe he will leave them to join Manchester United this summer.
According to Spanish transfer expert Eduardo Inda, Raphael Varane is yet to reach an agreement with Real Madrid over a new contract and now has his heart set on a move to Manchester United.
The Frenchman joined Real Madrid from Lens in the summer of 2011. During his ten-year stint with the Spanish giants, he helped the club to three La Liga titles, four Champions League trophies, four FIFA Club World Cups and a Copa Del Rey title.
The 27-year-old has developed into one of the best defenders of his generation and has made over 350 appearances for Real Madrid. He has also amassed 73 caps for the French national side and helped them to FIFA World Cup triumph in 2018.
Raphael Varane remains a key member of Zinedine Zidane's Real Madrid squad. He is, however, seeking a new challenge and is keen on making a move to the Premier League.
Manchester United are in desperate need of a top-quality defender. Ole Gunnar Solskjaer reportedly has no faith in the likes of Victor Lindelof, Eric Bailly and Axel Tuanzebe.
The potential signing of Raphael Varane could transform Manchester United into genuine contenders for the Premier League title next season.
Real Madrid's potential sale of Raphael Varane could help them raise funds for Kylian Mbappe transfer
Real Madrid are facing heavy financial losses due to the negative impact of the coronavirus pandemic. The club will be open to the idea of selling a number of its key players if they are to make big signings this summer.
Los Blancos have been linked with moves for the likes of Kylian Mbappe and Erling Haaland. Both forwards are likely to cost in excess of £100 million.
The potential sale of Raphael Varane will help Real Madrid raise in excess of £50 million.