Borussia Dortmund are reportedly 'pessimistic' about their chances of retaining the services of Jude Bellingham in the long term.
When the Bundesliga giants signed the-then teenager from Birmingham City in 2020, there had been the hope that the midfielder would start to develop into one of the best midfielders in European football.
Approaching the midway point of his third campaign at Westfalenstadion, Bellingham has progressed beyond expectations and is now regarded as Dortmund's key man.
Six goals and two assists have been contributed from 16 starts in Germany's top flight and the Champions League this season, while his overall performances have stood out in both competitions.
With over two-and-a-half years remaining on his contract, Dortmund are not necessarily under pressure to cash in on their most prized asset at the present time.
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Officials at Dortmund have previously acknowledged that they plan to offer the 19-year-old fresh terms in a bid to retain his services, potentially for two more seasons.
However, according to the Daily Mail, Dortmund do not expect to be successful with that attempt, appreciating the level of interest that there is in Bellingham's signature.
The report acknowledges that Real Madrid are preparing to put together a proposal which they feel will see off any rival bids from the Premier League.
Los Blancos are planning for the eventual exits of 32-year-old Toni Kroos, who is in the final year of his contract, and 37-year-old Luka Modric.
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While the report states that Bellingham does not possess a release clause, offers which meet Dortmund's valuation are expected to be made during the summer transfer window.
Earlier this month, it was suggested that Bellingham would prefer to move to the Bernabeu over returning to England at this stage of his career.
Nevertheless, Liverpool, Chelsea and Manchester United are all said to be monitoring the situation given the need to strengthen their respective midfield areas.
Manchester City boss Pep Guardiola is also a known admirer, saying earlier this week that Bellingham possesses "a special mentality".
Darren Plant
