Asensio, 18, has burst into the first team at Mallorca this season and a host of European giants are monitoring his situation.

City, Barcelona and Fiorentina are all on the playmaker's trail and have made enquiries about his availability to Mallorca, although none of them have made a firm offer.

Real Madrid are desperate to avoid getting embroiled in a transfer war and are willing to meet the youngster's £3.3m releause clause fee to secure his signature in the summer.