Chelsea and Manchester United on red alert as Real Madrid make star available for transfer

James has spent the last two seasons on loan at Bayern Munich after falling out of favour at the Santiago Bernabeu. The Colombia international has made 67 appearances in all competitions during his time in Bavaria, but an alleged falling-out with manager Niko Kovac means he is unlikely to still be at the Allianz Arena next season. And with Madrid set to embark on a squad overhaul this summer, James could be on his way to the Premier League in the next few months. According to Marca, the 27-year-old is available for a cut-price fee of just £36m. Chelsea and United are both monitoring the situation closely, although the Blues’ plans could be derailed if FIFA uphold their two-window transfer ban. United, meanwhile, may have to secure Champions League football in order to attract a player they have tried to sign previously. READ MORE The 15 best free-kicks of all time: where does Messi vs Liverpool rank? Why Maurizio Sarri could become Chelsea’s most successful failure James Rodriguez opens door to Real Madrid return: “I have everything there” James wants permanent Bayern Munich stay James’ father fuels Juventus transfer talk Gareth Bale set for Real Madrid exit – but he can choose his next club Real Madrid win race for in-demand Bundesliga striker – report Here’s why Manchester United and Liverpool could both miss out on Joao Felix this summer Ruben Loftus-Cheek determined to overcome back injury and find best form Manchester United have told Real Madrid how much it will cost them to sign Paul Pogba Guardiola impressed by impact Rodgers has had at Leicester The £60 million sixth-choice forward: what’s happened to Riyad Mahrez at Manchester City? Real Madrid set date to confirm Eden Hazard signing – report Pontus Jansson: “I had an offer to leave Leeds last summer – but I didn’t want people to remember me for negative things” Quiz! Can you name the Chelsea squad that won the Europa League in 2013? Friday’s big transfer rumours: £35 million rated teenage star ready to choose Tottenham over PSG and Juventus