Real Madrid have reportedly fallen behind Manchester City in the race to sign AC Milan left-back Theo Hernandez.
Hernandez left Real Madrid in the summer of 2019 to join Milan for around €20m and he has since established himself as an important first-team player at San Siro.
The 27-year-old has made a total of 248 appearances for the Rossoneri in all tournaments, recording 33 goals and 44 assists as a left-back, and won the Serie A title in the 2021-22 campaign.
Hernandez has played 35 times across all competitions for Milan so far this term, but he struggled to show his best form under former boss Paulo Fonseca at the beginning of this season.
The France international's form has since been inconsistent under new head coach Sergio Conceicao, and although he has featured regularly in the first team, his long-term future in Italy is thought to be uncertain.
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Man City ahead of Real Madrid in Hernandez race?
Uncertainty over Hernandez's future at San Siro has subsequently led to speculation over a possible big-money exit, with a number of top European clubs believed to be interested in his services.
According to CaughtOffside, Ruben Amorim wants to sign Hernandez at Manchester United and the left-back has been identified as an ideal replacement for injury-prone Luke Shaw.
However, with Man United seemingly set to miss out on securing European football for next season, a transfer to Old Trafford appears unlikely.
Bayern Munich are said to have also held an interest in Hernandez, but that now seems to have cooled after they tied down Alphonso Davies to a new long-term contract.
This therefore leaves Real Madrid and Man City to battle it out for Hernandez's signature, and CaughtOffside claims that the Citizens are currently 'edging ahead' of Los Blancos in the race to sign the Frenchman.
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Milan lower Hernandez asking price amid Man City, Real Madrid interest?
It is claimed that a 'clean break of sorts' and the opportunity to test himself in the Premier League for the first time could be more appealing to Hernandez than a return to Real Madrid.
A separate report from TEAMTalk states that Hernandez, who has less than 18 months remaining on his contract, was offered the chance to join Serie A side Como in January for €50m (£41.5m), which indicates that he does not have a future with Milan.
A winter-window transfer ultimately failed to materialise and Milan could now be prepared to do business with interested suitors at around €35m (£29m), a figure deemed 'more than acceptable' for Man City.
Pep Guardiola's side are preparing to resume their major squad rebuild in the summer after signing four players for around £180m in January, and the addition of new full-backs is thought to be high on their agenda.
Hernandez would presumably compete with Josko Gvardiol for regular starts at left-back if he were to join Man City, who are also keen to sign Juventus' Andrea Cambiaso as a potential right-back replacement for Milan loanee Kyle Walker.