Real Madrid are planning a part-exchange deal with Manchester City for Tottenham striker target Emmanuel Adebayor - with out-of-favour midfielder Fernando Gago moving in the opposite direction according to insidefutbol.com.
Adebayor spent the second half of last season on loan at the Bernabeu, though a permanent switch to Madrid looked unlikely after Real boss Jose Mourinho identified Brazilian starlet Neymar as the man he wanted to bring in over the summer to compete for a place in the La Liga giants' forward line.
However, after the 19-year-old South American star outlined his intentions to remain in Brazil, at current club Santos, until after the Club World Cup in December - Los Blancos have been forced to consider other options.
Manchester City boss Roberto Mancini recently confirmed that both Adebayor, and fellow Citizens striker Craig Bellamy had no future at the Etihad Stadium, and therefore would be available for transfer with immediate effect.
Tottenham Hotspur manager Harry Redknapp has also been heavily linked with a move for Adebayor as he strives to strengthen his attacking options at White Hart Lane ahead of the new season.
But in the latest twist it appears that Real have once again bypassed Spurs in the race for the former Togolese international's signature.
Mancini has expressed his desire to sign two more players before the close of the transfer window, with City also rumoured to be back in for Arsenal midfielder Samir Nasri - who has been tempted by the lucrative offer on the table from Manchester City.
Gago - another player believed to have been on the Tottenham radar in the past, is keen to return to former club Boca Juniors after falling down the pecking order in Madrid.
But the player's agent Marcelo Lombilla insists that any such deal is a non-starter:
"It is impossible that he will go [back] to Boca Juniors," he said. "They have not made an offer to Real Madrid and are not about to make an official approach either."