The Belgian champions have insisted that they have yet to receive an official bid for the Argentine, although they understand Los Blancos' interest in their playerAnderlecht director Herman Van Holsbeeck has stressed that Real Madrid have yet to make an offer for Lucas Biglia.
A number of recent reports suggested that the Liga champions are keen to sign the Argentina international this summer, but the Anderlecht man is adamant that Madrid have not tabled a bid yet.
"It is very well possible that Real Madrid are thinking about signing Biglia. Maybe they are looking to sign someone who can play when their big stars are rested," Van Holsbeeck was quoted as saying by Het Nieuwsblad.
"It all depends on what Real Madrid have in mind. However, up till date, we have not received an offer for Biglia."
Meanwhile, Biglia has made it clear that he does not fear the competition at Madrid if he were to join the Santiago Bernabeu side.
"People also told me I was too young when I joined Anderlecht, but I have adapted and look at where I am now. Whether it's Real Madrid, Sevilla or any other team, I will adapt once again and find my way. It doesn't scare me to move elsewhere."
The 26-year-old has a contract with Anderlecht until the summer of 2015.