Real Madrid are set to make an amazing £120m ($161m) offer for Chelsea midfielder Eden Hazard, whose deal with the Blues expires in 2020. The Belgian has been urged to sign a new deal by Manager Antonio Conte but there has been no movement on that front thus far.

The Sun reports that Real are looking to put in a massive bid in the summer to convince Chelsea to part with their prized asset should he not sign. There is also competition for the midfielder from among the ranks in the Premier League, with Manchester United keen to put in a £90m ($121m) bid for the player amid the uncertainty.

Real are planning a shake-up of their squad next summer, with Gareth Bale among the names likely to be shown the door. The 12-time European champions have identified Hazard as a replacement for Bale, whose career in Spain has stalled due to a series of injuries.

The Belgium international is a key player for the Blues at Stamford Bridge. He has been the club's player of the year on three occasions for the last four years. He has scored eight goals and registered six assists for Conte's side in all competitions this term.

Hazard was left out of Saturday's starting XI against Stoke, and was an un-used substitute as the Blues cruised to a 5-0 victory, likely to keep him fresh for their trip to Arsenal on 3 January. Meanwhile, the 26-year-old, who does not operate with an agent, has revealed that he is enjoying life in London and would consider signing a new deal if offered terms which meet his expectations.

Real received a boost in their chase from Eden's father, who claimed that his son has rejected a new offer from Chelsea. However, the argument was deemed to be false, as reported by the Guardian, who claimed that no formal offer has been made.

Hazard's father told Le Soir, according to the Daily Mail : "What I can reveal about Eden is that he refused a contract extension. This was so that, if necessary, he could follow the interest of Real, whom he could see himself playing for. As of right now, there is no contact from Real Madrid. Eden is only one of the parties involved in his future."