According to Mundo Deportivo (h/t Juan Jimenez of AS), Madrid will put their interest in AS Monaco star Kylian Mbappe on hold and turn to Dembele instead.
It's suggested interest from Madrid may drive up the asking price for Dembele, with Barcelona said to be preparing an offer for the 20-year-old sensation.
Whoever does end up with Dembele would have had to part with an extraordinary amount of money to get him. According to Sport, the Bundesliga side value their prized asset at a staggering €150 million (£135 million).
As OptaJose noted, the France international is thrilling to watch:
103 - Ousmane Dembélé was the only player to complete more than 100 dribbles in Bundesliga last season (103/213, 48%). Fantasy. https://t.co/CxHM5KKxew2017-8-9 15:05:13
His talents make Madrid's interest understandable and could pave the way for another transfer battle with Barcelona. As Jimenez reported, the two clubs have scrapped over Theo Hernandez, Dani Ceballos and Vinicius Junior already this year; Los Blancos wrapped up deals for all three.
With Neymar at Paris Saint-Germain, the Camp Nou club needs to secure a big-name signing, and Dembele feels like an ideal stylistic fit for the Brazilian's old spot on the left flank. His pace, power and ability to attack the full-back on either foot make him so dangerous; his haul of six goals and 12 assists in the Bundesliga last season point to a player who is mature in his decision-making too.
If Madrid were to swoop and secure the capture of Dembele, he would make a fine acquisition. Factor in the crushing disappointment Barca would feel as a result, and it is a scenario plenty of Madridistas will be keeping a close eye on.
Isco 'Very Close' to New Contract
Real Madrid midfielder Isco has revealed he is "very close" to signing a new deal at the Santiago Bernabeu.
The playmaker's contract is set to expire at the end of the 2017-18 season, although Isco calmed any lingering doubts as to where his future lies. "We're very close, and it will be done soon," he said after Tuesday's UEFA Super Cup win over Manchester United, per Jack de Menezes of The Independent.
Although it is unfathomable to think of Madrid letting Isco go, a year ago, there were serious doubts about his future. But after a storming end to the 2016-17 season, he's become a key man for manager Zinedine Zidane.
In addition to his exceptional technical and dribbling ability, Isco has added goals to his game, per WhoScored.com:
Isco: Had a better conversion rate (31.3%) than any of the 26 players to score 10 or more La Liga goals last season https://t.co/gYPyQPE1TL2017-8-9 15:00:04
In recent years, the attacking trio of Cristiano Ronaldo, Gareth Bale and Karim Benzema has been central to Madrid's success. But Isco is giving Zidane some difficult, although enviable, decisions to make.
It appears all is on track with Isco's renewal, which will delight many a Madridista. If Los Blancos are to continue being the dominant force in European football for years to come, you sense he will play an important role.