The 23-year-old, who has been tipped to be named the Premier League player of the year, is expected to be targeted by elite clubs around Europe at the end of the season due to his prolific form for the North London outfit.
It is understood that Madrid will spare no expense in trying to land the Wales international, who has been valued in the region of £70m, according to The Express.
Reports have claimed that Manchester City manager Roberto Mancini is also keen to launch a summer bid for the former Southampton player.
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