Real will not buy Pogba or Eriksen unless they can raise around £134m

Real Madrid
will not buy Paul Pogba
or Christian Eriksen this summer unless they can raise around €150million (£135m) in the transfer market.
The Spanish club will unveil Eden Hazard
this week and Luka Jovic will also be presented to supporters. When the international break concludes Lyon full-back Ferland Mendy should also complete his move to the Santiago Bernabeu providing he comes through a longer, more detailed medical focusing on an ongoing hip problem.
But that is where the new signings will stop.
Coach Zinedine Zidane still wants a new midfielder but the club will not sanction anymore ins without some substantial outs.
Madrid are understood to be sceptical about the teeth that any so-called Financial Fair Play 2.0 might actually have, bearing in mind how toothless the original FFP has so far been in terms of stopping the huge spending of Paris Saint-Germain.
They also don't envisage a club being penalised for a net spend in any one season without taking into consideration spending in previous seasons. In recent summers Madrid have made a net profit in the transfer market.
But that does not change the financial limitations on their spending. The club are not propped up by the unlimited wealth of a private owner and with the renovation of their Santiago Bernabeu stadium likely to cost around £357m (€400m) they must sell to buy this summer.
They started the season with a net-spend budget of around £89m (€100m) - a figure reached after the acquisition of Rodrygo Goes and Eder Militao. That has also been spent on Hazard who comes in at £89m (€100m) plus £27m (€30m) in add-ons to be paid subject to games played and trophies won.
Signing both Pogba and Eriksen is not an option under any circumstance but both board and coach agree a new midfield arrival is needed. Zidane has made Pogba his No 1 choice from the day he returned to the club.
The board are sceptical because president Florentino Perez has in the past avoided doing business with Pogba's agent Mina Raiola. There are concerns about what he would cost both in payments to United and payments to Raiola, and about how much value for money he will bring. United will want between £142m and £160m.
Perez would prefer Eriksen who would be a more straightforward signing complicated only by Daniel Levy's insistence that despite only having a year left on his contract he wants £89m (€100m) for the Dane.
Zidane does not believe the team needs Eriksen. Toni Kroos signed a new contract this summer and Eriksen's preference for playing as an attacking midfielder would give the French coach an over-booking problem in the final third. Pogba, he believes, offers more in the way of physique. He can drive from deep; he could play alongside Casemiro offering defensive cover as well as forward forays. Zidane believes the team lacks athleticism - an area where he thinks Pogba is a better bet than Eriksen.
But neither player can arrive without sales. Madrid have put a for sale sign on almost every one of their 35-man bloated squad. It's easier to talk about those that will not be sold than those that could leave at the right price.
REAL MADRID PLAYERS WHO CAN GO LEAVE 
GOALKEEPER
Keylor Navas
 
DEFENDERS
Marcelo 
Jesus Vallejo
Sergio Reguilon
Theo Hernandez
 
MIDFIELDERS
Isco 
Marcos Llorente
Lucas Silva
Dani Ceballos
Mateo Kovacic
 
FORWARDS
James Rodriguez
Gareth Bale
Raul de Tomas
Borja Mayoral
Mariano Diaz
But the players they are banking on bringing in a fee are goalkeeper Keylor Navas; young defenders Jesus Vallejo, Sergio Reguilon and Theo Hernandez; midfielders Marcos Llorente, Lucas Silva, Dani Ceballos and Mateo Kovacic; and attackers James Rodriguez, Gareth Bale, Raul de Tomas, Borja Mayoral and Mariano Diaz.
Their biggest problem is that the players on that extensive list who would bring in the most money – Navas, Rodriguez and Bale - have so far not attracted offers and in the case of Bale have no intention of leaving.
In their desperation it's also been made clear that Marcelo and Isco would be sold at the right price but as Perez said in a radio interview two weeks ago when asked if there had been offers for £75m-rated Bale: 'No, there have been no offers for anyone.'
In the absence of any permanent deals, loan options are being looked at. But loan options will not raise the sort of money Madrid need to fund an offensive for Pogba.
Madrid loaned Rodriguez to Bayern Munich two years ago with the German club paying half his wages at around £5.8m a season, and a £5.8m a season fee. There was a buy option that Bayern this summer decided not to exercise. Zidane has set an asking price of £37m for the Colombian.
Rodriguez does not want to be loaned out again and Navas would also prefer a straight sale. A loan could be an option for Bale but he earns almost three-times Rodriguez's salary and the financial implications of loaning him but continuing to pay his wages would mean it would simply not be worth it for Madrid.
The club were hopeful towards the end of the season that Bale could go to Tottenham or Manchester United on loan, so opening the way for Eriksen or Pogba to move in the other direction.
But Tottenham cannot pay Bale's £15.2m wages, United don't want to pay his £15.2m wages, and so far there has been no enthusiasm on the part of Bale to go back to the Premier League - he has stated time and again that he wants to stay in Spain. 
As things stand Madrid are hoping to enjoy a week of three new-signing presentations with Jovic, Mendy and, in particular, Hazard, welcomed with much fan-fare. But once the streamers from Hazard's presentation have settled any more new arrivals of such high impact will depend entirely on big-name players being sold first. 
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