The Colombian has endured a tough ride at the Bernabeu this season under Zinedine Zidane leaving his future uncertain ahead of the transfer window.
His situation has led to the likes of Manchester United, Liverpool and Chelsea keeping tabs on him.
James Rodriguez is attracting interest from Liverpool and Manchester United
James Rodriguez transfer odds
Mon, March 27, 2017
Click through the gallery for the best transfer odds on James Rodriguez's next club
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Click for the best transfer odds on James Rodriguez's next club
Jurgen Klopp is a big fan of the Colombian midfielder
And now Spanish publication Don Balon suggest Liverpool are ready to smash their transfer fee record they spent to bring Andy Carroll from Newcastle in 2011 for £35m.
The Reds are reportedly prepared to pay £43m to secure his signature with bonuses taking the total fee up to £52m.
The report suggests Real president Florentino Perez has given the green light to Rodriguez’s sale providing his valuation is met.
Valuable players out of contract this summer
Thu, March 23, 2017
Express Sport takes a look at 10 valuable players who are out of contract this summer
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1. Jesus Navas (Manchester City) – £12.75m
James Rodriguez is expected to leave Real Madrid in the summer if they receive a respectable offer
The former Monaco and Porto star has fallen down the pecking order in the Spanish capital this season with Karim Benzema, Cristiano Ronaldo and Gareth Bale leading the line, while the likes of Luka Modric, Casemiro and Toni Kroos have kept him out of a place in midfield.
Rodriguez is under contract with Real until 2020 but it seems his time in Madrid will come to an end this summer with a Premier League switch a likely option.