Real Madrid have placed a £51million price tag on James Rodriguez’s head, with Arsenal among the sides trying to sign him this summer.

The Colombian attacker has been on a two-year loan at Bayern Munich from the Santiago Bernabeu but had hopes of returning to the Spanish capital this summer.

However, Zinedine’s reappointment as Real Madrid manager will scupper the 27-year-old’s plans and he now faces a decision over his next move.

Bayern Munich have an option to sign him for a cut-price £36million when his loan deal comes to an end.