Zinedine Zidane's Real Madrid have responded to interest in one of the club's most expensive signings of all time.

According to Madrid based newspaper Marca, 'Los Blancos' have received calls from Chelsea and Bayern Munich for the highly rated South American midfielder.

Chelsea were recently beaten to the mega-signing of Romelu Lukaku by Manchester United and Antonio Conte is surely aching to strengthen his attacking options at Stamford Bridge.

With Diego Costa reportedly heading for the exit door, the Blues would be left with Michy Batshuayi as the only option up front.

The Blues could find themselves going head-to-head with the mighty Bayern Munich in the transfer market this summer, as per the Spanish reports.

Bayern & Chelsea leading interest

Having found himself out of favour at the Bernabeu, James Rodriguez has been linked to a number of top European clubs over the past few months.

The 25-year-old Colombian superstar has been previously linked with Manchester United and PSG but - according to Marca - Chelsea and Bayern Munich are leading the interest.

Both clubs have contacted Real Madrid over the availability of James Rodriguez but are yet to submit an offer for the 2014 World Cup star.

Chelsea showed great interest in January and could certainly make a statement in this summer's transfer window by making Rodriguez the club's record signing.

Bayern coach Carlo Ancelotti signed Rodriguez during his time coaching in Madrid and has reportedly urged the Bayern hierarchy to break the bank in order to sign the supremely talented attacking midfielder.

James Rodriguez thrived under Ancelotti but has made just 23 La Liga starts during Zidane's 18 month spell at the helm.

The first team additions of Marcos Llorente and Dani Ceballos alongside last season's emergence of Isco would suggest that James will be surplus to requirements in Madrid.

Real Madrid set price tag

Marca report that Real Madrid are unwilling to sell the former Porto and Monaco number 10 for anything below the €75m (£66m) paid for him in 2014.

If he were to leave, James Rodriguez would definitely become a club record signing for either Chelsea or Bayern Munich.

Fernando Torres remains Chelsea's most expensive signing at €59m (£50m) whilst €41.5m (£35m) Corentin Tolisso recently became Bayern Munich's record signing.

His career has stalled at Real Madrid and James Rodriguez will surely be interested in any kind of opportunity which offers first team football.