Real Madrid Transfer News: Latest Rumours on Major Deals Eyed by Carlo Ancelotti

Real Madrid aren't expected to be among the busier teams in the January transfer window, but Los Blancos are reportedly close to signing arguably the most wanted target available in Martin Odegaard.

The Norwegian teenage sensation has travelled to Madrid to finalise a deal with the current Champions League holders, as reported by The Daily Mail's Simon Jones.

Sky Sports' Pete O'Rourke knows the Spanish media is saying the same thing:

Odegaard has been travelling all over Europe with his family this past month, visiting one top club after the other. The 16-year-old is widely regarded as one of the top talents in all of football, enjoying a rapid rise to stardom in 2014.

He became the youngest international ever to be involved in an official Euro qualifier, playing for Norway against Bulgaria in October. He turned 16 in December, meaning he can now put pen to paper on his first official senior contract.

According to The Times' Oliver Kay, Odegaard and his father expect him to be playing minutes off the bench at the very highest level in one year, and Real Madrid appear to believe the same thing:

The deal isn't official yet, but all reports and rumours appear to indicate it will be soon. Odegaard is expected to immediately join the club's senior side, where he will learn from some of the top midfielders the sport has to offer.

Not everyone is a fan of his decision, however. Los Blancos already field an impressive amount of talent in central midfield—cracking the rotation will be difficult, even for someone as talented as Odegaard.

Real don't have a sterling reputation when it comes to talent development, a logical consequence of the club's winning culture. Manager Carlo Ancelotti will always opt to field the best player available—he doesn't have time to slowly bring youngsters into the fold.

Spanish football expert Rafael Hernandez believes the Norwegian international will come to regret his decision:

We'll soon find out whether he does or not. He and his entourage expect he'll be playing meaningful minutes in one year—we'll see whether that's the case or not.

One of his main rivals in midfield is rumoured to be the target of a massive offer in January, as the Daily Star's Bruce Archer claims Arsenal will offer Los Blancos £64 million for the services of Isco:

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Arsene Wenger has reportedly made the Spain star his number one target and is prepared to push through a club record transfer.

Isco moved to Madrid in 2013 but has often found his place in the team obstructed by Cristiano Ronaldo and Gareth Bale.

In Bale's absence, however, he became a pivotal man in Carlo Ancelotti's side.

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The 22-year-old is enjoying an excellent season for Los Blancos, playing in Luka Modric's position while the Croatia international recovers from injury.

Seen as one of Spain's top talents, his first year in the capital was marred by injury, and the arrival of James Rodriguez had plenty of fans wondering whether there still was a future for him at the club.

His performances in 2014-15 have answered those questions, however. Spanish football expert Sergi Dominguez has been particularly impressed with his consistency:

Given his recent form and incredible potential, £64 million seems a proper estimate of the Spain international's value. Whether Arsenal are capable—and willing—to pay such a huge sum is a whole different matter.

Arsene Wenger isn't known as a big spender in January, and such an offer would smash the current British transfer record to pieces.

Real also won't be willing to part with their star midfielder, so at this point in time, a transfer appears unlikely.

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