Real Madrid Transfer News: Latest on Alexis Sanchez, Eden Hazard Rumours

Real Madrid are reportedly lining up their replacements for Cristiano Ronaldo should the Portugal captain leave the club next summer, with Arsenal's Alexis Sanchez and Chelsea's Eden Hazard both in their sights.

Spanish magazine Don Balon claimed ex-Barcelona winger Sanchez is a target for Los Blancos, and they feel he'd be open to a La Liga return after excelling during his time at the Emirates Stadium (h/t talkSPORT): "Real see Sanchez as the ideal replacement for Ronaldo and think the Chilean would be open to a return to Spanish football, having spent three years at Barcelona."

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However, Metro's Mark Brus added Manchester United will also enter the hunt for Sanchez's signature at the end of this season, particularly if his former Barcelona mentor Pep Guardiola takes over from manager Louis van Gaal.

The Gunners did sell Robin van Persie to their Premier League rivals in 2012, but Sanchez, 26, is nearing his playing prime, and so a deal between the two English teams is almost impossible to imagine.

It's easy to see why Real are taken with Chile international Sanchez after he had a leading hand in guiding Arsenal to the Champions League round of 16, as illustrated by Metro:

Ronaldo's future is regularly discussed at the Santiago Bernabeu, but 2016 is now being looked upon as a genuine exit possibility for the forward, with Real currently five points off the La Liga summit and morale seemingly low under Benitez.

That being said, it's unclear whether former Blaugrana star Sanchez would be willing to join Barca's El Clasico rivals in what could make for an uncomfortable transition back to Spain.

An alternative for Los Merengues is Chelsea's Eden Hazard, whom the Blues say they aren't willing to sell for any less than £75 million.

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That's according to Spanish website Fichajes, reporting Real hope to capitalise on Chelsea's weakened state following a poor start to the 2015-16 campaign (h/t Daily Star's Alex Harris).

The former Lille superstar arrived at Stamford Bridge in 2012 for a reported fee of £32 million, and despite his drop in form, Chelsea are looking to double their money on the club's two-time Player of the Year.

Hazard is yet to score in 23 appearances across all competitions this season, and ESPN FC's Jake Cohen recently put the Belgian's drought into numbers:

Real would have to feel confident in their ability to bring one of the world's most renowned wingers back to his best if they fork out £75 million on his services, just shy of the world-record £85 million paid for Gareth Bale in 2013.

Chelsea currently sit 16th in the Premier League, however, and if their 2015-16 misery continues into 2016, poaching their stars may be seen as a realistic option for Real and the rest of Europe's big guns.