Manchester United midfielder Paul Pogba has given the clearest indication yet that he could leave Old Trafford, saying this summer "could be a good time to move elsewhere".
The France World Cup winner has been linked with a big-money move to Spanish giants Real Madrid and former club Juventus.
But can big-spending Real afford the 26-year-old and stay within about Financial Fair Play (FFP) rules?
Kieran Maguire, football finance expert at the University of Liverpool, has crunched the numbers.
1. Who have Real bought so far?
With the exception of Thibaut Courtois' arrival from Chelsea last summer, Real have stayed away from big-name signings since 2014, when Toni Kroos and James Rodriguez arrived at the Bernabeu.
But they have spent an estimated £300m since the end of last summer - the club's transfer window record of £227m (254m euros) was set in 2009 with the capture of Cristiano Ronaldo, Karim Benzema, Kaka and Xabi Alonso.
The biggest outlay has been on Belgium forward Eden Hazard, who joined from Chelsea for a fee that could exceed £150m.
Serbia striker Luka Jovic was signed from Eintracht Frankfurt for a reported £53m and they bought left-back Ferland Mendy from Lyon in a deal worth up to £47.1m.
Porto defender Eder Militao was signed for £42.7m in March and Brazil forward Rodrygo, 18, signed from Santos for £40m in June 2018, has only just joined up with the squad.
2. Can they afford Pogba?
An analysis of Real's financial figures suggests they have the capacity to spend more.
In their last set of accounts, Real had income of 751m euros, and while they were knocked out relatively early in the Champions League in 2018-19, other income streams such as friendly matches and commercial sales are more than likely to make up the shortfall.
Real will also benefit from a change in Uefa's algorithm for calculating money paid out to clubs, which from 2018-19 takes into consideration the performance of a club over the last 10 seasons in the Champions League and Europa League.
While Real have spent considerable sums this summer the club also banked a 100m euros from the sale of Ronaldo to Juventus last summer, which will appear in the 2018-19 accounts.
The club, therefore, appears to have considerable wiggle room in terms of recruitment this summer.
3. How will they balance the books?
Player sales are likely simply because the squad is too large following the recruitments over the summer to date, but Real's profits in recent years means that there is no need for panic disposals at low prices.
Real had 190m euros in the bank in their last published accounts in June 2018.