Dortmund goalkeeper Gregor Kobel was on Newcastle United's radar last summer.
According to German outlet Bild, the Swiss international snubbed a move to the Premier League, believing he had a better chance of winning silverware with Dortmund than with the Magpies.
Currently, Kobel is not seeking options for a move away, as he is under contract with Dortmund until 2028. The club is keen to extend his deal further.
However, Spanish publication AS reports that the 28-year-old is also being discussed as a potential target for Real Madrid.
As per Bulinews, the goalkeeper's agents are looking to take advantage of the stalemate in negotiations over a new contract for current Real number one Thibaut Courtois. The Belgian's deal expires next summer, but Real are attempting to secure him for another year, until 2028.
If Courtois does move on from Madrid next year, the Spanish giants could view Kobel as a top replacement. So far, though, there have been no formal talks regarding this possibility.
Transfermarkt currently values the goalkeeper at around €40 million.
