Madrid are already making big preparations ahead of the summer transfer window.
While targets for Zinedine Zidane's side are being identified, Varane is one star who may be offloaded.
Juventus centre-half Leonardo Bonucci is wanted instead at the Bernabeu due to a similar level of class and experience at a top club.
According to Spanish outlet Don Balon, France international Varane is considered 'spoiled' at Madrid.
Raphael Varane is deemed a spoiled member of Zinedine Zidane's Real Madrid team
[Mourinho] has apparently long been insistent on the idea of closing the signing of Varane
And it is said the 23-year-old still has the option to leave for Manchester United.
Jose Mourinho brought him through at the La Liga giants and is a big fan of the defender.
The Red Devils boss is looking to bolster his backline and has apparently long been insistent on the idea of closing the signing of Varane.
Don Balon add Madrid are aware of Mourinho's pursuit.
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While compatriot and boss Zidane does protect him within the squad, Varane is still after guarantees over his place in the team.
If Bonucci is acquired, Madrid will apparently open the door to an exit.
Juventus tied down their Italy international, 29, to a new contract as recently as December.
However, Madrid are convinced they will be able to reach an agreement with the Serie A giants, although it may mean including a player in a deal.