It is believed that the Galacticos are prepared to make an initial approach of £20 million for the Serbian centre back, who is contracted with Manchester United until 2012.
The Serbian joined Manchester United from Spartak Moscow in January 2006 and has since been a key figure in the team's defence. But in recent months there's been speculation about his future with the club following his wife Ana's inability to settle down in the cold climes of Manchester.
Of late Real have been left down by their defence and reinforcing it with the 28-year-old, whose tenacity and anticipation of aerial ball make him tough to get past, could be just the shot in the arm they need to match up to the challenge of the archrivals Barcelona.
EPL weekend fixtures
Man Utd cruise past Wolves to go level at top
Manchester United laid low by injuries to backline
Rooney inspires Manchester United to victory
Alcorcon complete Real Madrid's humiliation in Cup