Eduardo Inda appeared on Spanish television programme El Chiringuito on Monday evening, where he insisted Los Blancos were hoping to snatch Hazard before the European Championships starts on June 10 (h/t Metro's Max Miller).
However, one might be tempted to question Inda's claims after he also said Real would be looking to do business at around £19.5 million following the player's drastic slump in form this season.
As a result of his failure to perform during the 2015-16 campaign, it stands to reason Hazard's stock may be at an all-time low, but even then there's little chance of the Belgian going for that little.
The 25-year-old is yet to score a goal from open play this season, but a move to the Santiago Bernabeu would hardly guarantee improvements, with the likes of Cristiano Ronaldo, Gareth Bale and James Rodriguez for competition.
What's more, Chelsea are in a position of power when it comes to selling a player they signed for £32 million in 2012, and Goal's Liam Twomey pointed out he still has more than four years to run on his contract:
Liam Twomey @liam_twomey
@Harry_Sherlock Always a danger but Costa is contracted until 2019, Hazard until 2020. Chelsea hold most of the cards this summer2016-2-7 18:06:57
That being said, Hazard could have a desire to fulfill his hopes for Champions League football elsewhere should the west Londoners fail to finish in the Premier League's top four at the end of this season.
The former Lille starlet recently spoke to Belgian newspaper La Nouvelle Gazette and suggested he'd like to work with Real Madrid manager Zinedine Zidane in the future, while insisting he's happy at Chelsea (h/t Sport):
I would like to be coached by Zidane. When I was small, I watched him on TV and the internet for hours. I was always speaking about Zidane... but, and I repeat, I feel really good at Chelsea, so this is not news.
[On Zidane praise] It is always nice to hear that the player I admired during my childhood speaking about me. I have always appreciated Zidane. I know about him as a player but not so much as a coach, although he has been very successful so far at the Bernabeu. But I am still under contract at Chelsea and I feel fine.
Chelsea face a crossroads this summer after seeing Hazard fail to produce his best: They can cash in under the impression his form will never return or persevere and hope he makes a full recovery next season.
Bet365 recently helped illustrate just how poor the attacker has been in front of goal this term, especially when compared with last season's record of 19 goals in 52 appearances for the club:
League goals in 2015-16: Joleon Lescott – 2 Gabriel Agbonlahor – 1 Eden Hazard – 0 #avfc https://t.co/FS1oVN1f5M2016-2-6 16:13:00
Belgium are currently ranked by FIFA as the No. 1 team in the world, and Real Madrid could see Hazard's price increase if he were to have an encouraging Euro 2016 campaign.
Taking this season's performances into account, signing Hazard at any point may be considered a risk, but Los Merengues appear to feel they'd be able to squeeze value out of his signature.