Real Madrid Transfer News: Latest Rumours on Julian Weigl and Pepe

Real Madrid will reportedly have to beat Barcelona and Manchester City if they're to complete the signature of Borussia Dortmund midfield marvel Julian Weigl. Meanwhile, a host of Serie A teams have been linked with a move for Pepe.

Weigl has emerged as the next big talent at Signal Iduna Park after moving to the club from 1860 Munich 18 months ago, and Spanish daily Sport reported Real, Barca and City are all hunting a summer move for the youngster.

According to the report, Barcelona sporting director Robert Fernandez sees the German as the "new Sergio Busquets," and he's said to top the Blaugrana's list of transfer targets who could replace their midfield anchor in the long term.

However, any move for Weigl is complicated by the fact he only just penned a contract extension with Dortmund, and the Mirror's Alex Richards recently hailed some fine business on the Bundesliga club's behalf:

It's easy to see why such an elite crop of European clubs are so interested in the midfielder considering he's played the full 90 minutes in all but six of Dortmund's Bundesliga and UEFA Champions League matches so far this season.

Following the 2-2 draw with Real in the Champions League in December, Dortmund boss Thomas Tuchel was asked if his star could play for Los Merengues, and ESPN FC's Dermot Corrigan provided a look at the tactician's answer:

City's technical secretary, Txiki Begiristain, is a former Barcelona board member, and he has been asked by fellow Camp Nou alumnus and Citizens manager Pep Guardiola to chase a deal for Weigl, according to Sport.

There is plenty of Spanish influence in every corner of the three major clubs chasing the 21-year-old, and Squawka recently illustrated Weigl's elite status as a passing playmaker in Germany's top flight:

Real's case is also helped after Jose Felix Diaz of Marca reported earlier in December that Los Blancos have first option on Weigl, as well as team-mates Ousmane Dembele and Pierre-Emerick Aubameyang. This means they must be informed if Dortmund receive any offer for the players and reserve the right to beat that figure.

Elsewhere, Spanish outlet OK Diario (h/t Daily Star's Alex Wood) reported Juventus, Inter Milan and AC Milan are all interested in signing defender Pepe, although lucrative offers from China may complicate the matter, per broadcaster Juan G. Arango:

Wood cited Marca when adding news that 19-year-old Jesus Vallejo—who is on loan at Eintracht Frankfurt—has already been picked out to succeed the Portugal international in Madrid next season.

A move to Serie A could give Pepe, 33, the chance to extend his club career with a longer-term deal than might be available at Real and thus prolong his international tenure, although the money on offer in China may be hard to turn down.