Monaco's Colombian World Cup sensation James Rodriguez is emerging as Real Madrid's next target, once Los Blancos have completed the signing of Bayern Munich midfielder Toni Kroos.

Rodriguez has been heavily linked with a move to the Santiago Bernabeu given his excellent performances in Brazil. Many believe the 22-year-old playmaker has been the player of the World Cup, scoring six goals in five games, and becoming the first player since the 2002 finals to score in each of the first four tournament matches.

It was reported that Real were ready to open talks with Monaco to secure Rodriguez as a replacement for Angel Di Maria, who is likely to leave Madrid as he believes the club do not value him highly enough.

Due to his superb performances in Brazil, the principality club have increased the player's price to €80m (£64m) – having paid around €45m (£35m) to Porto to secure his services last summer.

However, Rodriguez's desire to sign for Real could force Monaco to reduce their value to around €70m (£56m). The player recently said: "It would be a dream to play there. It is the best league in the world. I prefer Real Madrid to Barcelona."

According to Marca, Monaco are open to negotiating and Madrid ready to make a major financial effort to sign Rodriguez – although they have no intention of paying more than €60m (£48m).

It seems that Rodriguez is guaranteed a regular place in the Real line-up, given that Alvaro Morata has confirmed his imminent move to Juventus and rumours suggest Paris Saint-Germain are preparing a massive €60m offer for Di Maria – which would free up the necessary cash to sign the Colombian.