Casillas lost his place in the Real Madrid starting line-up last season. [Reuters] Reuters

Real Madrid are reportedly monitoring Espanyol goalkeeper Kiko Casilla should Arsenal and Manchester City seal a move for Iker Casillas in the summer.

The Premier League giants have been linked with the Spanish international number one in recent months and they are keen on taking advantage of Casillas's absence from the Real Madrid starting line-up.

The 32-year-old keeper lost his place in the team last season under Jose Mourinho and this campaign is only playing in the Champions League and Copa del Rey, while Diego Lopez is the Real Madrid number one in La Liga.

Spanish newspaper Marca reports that the Spanish giants believe Casillas may force his exit at the end of the season and they are already compiling a shortlist of keepers to replace him or Lopez, who has also been linked with City.

According to Marca, manager Carlo Ancelotti is closely watching Espanyol shot-stopper Casilla, who started in the junior ranks at Madrid and is excelling this season with the Catalan side.

Reports in Spain claimed last month that Arsene Wenger has been trying to sign a goalkeeper for a while as he does not trust completely in Wojciech Szczesny and he believes that Casillas's experience would add a lot of quality to the squad.

Meanwhile, Manchester City have been also linked with the Real Madrid keeper especially after Manuel Pellegrini, who managed Casillas during one season in La Liga, struggled to establish a number one during the first part of the season – with Joe Hart and Costel Pantilimon both failing to impress the Chilean boss.

Casillas is reportedly eager to finish his career in the Premier League and would be particularly keen on living London.