Real Madrid Transfer News: Latest Rumours on Pepe and Martin Odegaard

Real Madrid warhorse Pepe is reportedly heading for the club's exit after being offered a contract worth more than twice his current salary to leave for the Chinese Super League. Meanwhile, Martin Odegaard may move to the Eredivisie on loan.

According to J.I. Garcia-Ochoa of Spanish newspaper Marca, Pepe has been offered €10 million (£8.5 million) per season after tax to join cash-rich Hebei China Fortune, who are managed by former Real chief Manuel Pellegrini:

To put those earnings into perspective, Pepe would stand to earn around £165,000 per week after tax, eclipsing the €4.5 million (£3.8 million) per year he earns at Real, equal to around £73,000 per week after tax.

Ochoa added the defender's preference is to remain with Real, but the club have refused to meet his demands for a new two-year deal, instead offering a new one-year contract with the option of an additional year available.

But with his current contract set to expire at the end of this season, Pepe may be tempted to secure a more lucrative future elsewhere, particularly as he prepares to turn 34 in February.

It's not as if Real manager Zinedine Zidane couldn't do with the Portugal international's services, either, after ESPN FC's Dermot Corrigan noted understudy Raphael Varane hasn't been at his best of late:

Los Blancos may have already found their replacement for the central defender, however. Alvaro de la Rosa of AS reported Jesus Vallejo—currently on loan at Eintracht Frankfurt—will be tasked with becoming Pepe's successor.

The 19-year-old Zaragoza native has been impressive during his loan stay in Germany, and Eintracht boss Niko Kovac paid the youngster high praise, per De La Rosa: "It's madness, I've never seen a player like him. He sees things so clearly; he's 19, and it looks like he's 30."

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There is one lifeline for Real in their hopes to keep Pepe, however, in that he's less likely to make Portugal's 2018 FIFA World Cup squad if he moves to China, meaning they may yet have a chance of keeping him in Madrid.

Elsewhere, S. Siguero of Marca reported Odegaard could complete a loan move to the Eredivisie next month, just weeks after making a belated first-team debut at the Santiago Bernabeu:

After recently turning 18, the pressure may begin to build on Odegaard to begin capitalising on some of the early promise he showed in his career, having struggled to maintain the same trajectory since moving to Madrid in 2015.

A move to the Netherlands may be good for Odegaard given the Eredivisie's reputation for promoting young talent, although Siguero said Real's preference is to keep the playmaker among their Castilla ranks and monitor his progress themselves.