However, Spanish outlet Don Balon claim Lloris is now on their wishlist for the summer.
His fine form in the Premier League has led to Madrid turning their attention to the Tottenham star.
Top six Premier League club's goalkeeper save percentages
Thu, January 19, 2017
Which top six goalkeeper has the highest save percentage so far this season?
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Claudio Bravo (Manchester City) – 28 per cent
Real Madrid want to sign Tottenham goalkeeper Hugo Lloris
Real Madrid are determined to replace Keylor Navas
Madrid are on the lookout for a new keeper with Keylor Navas expected to leave at the end of the season.
The Champions League holders have failed to sufficiently replace Iker Casillas since he joined Porto in 2015.
However, it is said Madrid fans may not take to the signing too kindly.
Real Madrid remain interested in signing David De Gea
Supporters of the Spanish giants have a reputation of being notoriously hard to please.
And the report claims their fanbase would rather the club sign De Gea or Courtois instead of Lloris in the summer.
That could lead to Madrid chief Florentino Perez pursuing the United and Chelsea goalkeepers at the end of the season.