Real Madrid are considering a bid from Juventus in the region of £88m for Cristiano Ronaldo, Sky sources understand.
Sky Sports News understand Real Madrid are yet to accept or reject the proposal.
Ronaldo prompted questions about his future after their 3-1 Champions League final victory over Liverpool in Kiev, promising an announcement "soon".
Juventus have made the first move to lure him away from the club he joined from Manchester United in 2009.
Sky in Italy have stated the Turin club were evaluating if it is feasible from a financial point of view.
Juventus managing director Giuseppe Marotta remained tight-lipped on the possibility of signing the five-time Ballon d'Or winner.
He was asked by Sky in Italy if Juve fans can "start dreaming about Cristiano Ronaldo?"
Marotta responded: "I won't speak (about that)."
Juve midfielder Blaise Matuidi said he would welcome having Ronaldo as a team-mate when he was asked about the possibility during France's press conference on Wednesday.
"It would be incredible to have one of the best players in the world at Juventus," he said in quotes published on Marca's website.
"It would be great for the club and for the players."