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The Sun reports that Los Blancos are preparing a £120 million offer for the 26-year-old. And if Chelsea can't get their No. 10 to agree to a new £300,000-a-week contract, his value will take a significant hit after this summer as the player builds leverage the closer he comes to the end of his deal.

With Eden Hazard's Chelsea contract winding down -- the Belgian international will enter the final two years of his deal in the summer -- Real Madrid are preparing to break the British transfer record to bring the Blues talisman to the Spanish capital.

 

And the Sun quotes Hazard's father, whom the report states spoke to Belgian media last week, as saying: "Eden has refused a contract extension to be able, if necessary, to follow interest from Real Madrid."

 

But he did go on to confirm that there has been "no contact" from Real Madrid as yet.