Los Blancos' interest in Davies is not new. The Spanish club has admired the left-back for some time, with initial talks held in February suggesting a possible move to Spain. During these discussions, a verbal agreement on personal terms was reportedly reached, outlining two potential scenarios: a 2024 transfer if a fee could be agreed upon, or a 2025 move when Davies could be available for free. After the campaign concluded, Real Madrid reignited their interest in Davies, recognizing the strategic opportunity his situation presented. Bayern’s reluctance to meet Davies’ salary demands provided Madrid with leverage. However, they are ready to spend €30 million (£25m/$32m) on the player but will not give in to Bayern's demands of €50 million (£42m/$53m).