Real Madrid signed Figo for £38m in August 2000 but are believed to be willing to off-load the Portuguese winger for £10m.

Italy could also be a possible destination for the 30-year-old who is expected to move from the Bernabeu in summer 2003.

But Real would apparently be willing to sell the player when the transfer window re-opens in January if the right offer comes along.

The Spanish giants have an abundance of talent after adding Ronaldo to their squad in August 2002 for £20m.

They already boast Zinedine Zidane, Roberto Carlos and Raul.

And Figo could be a casualty of the club trying to recoup some of its outlay.

Real are already thought to have sounded out certain clubs about Figo's availability with Arsenal, Manchester United and Liverpool the most likely to be able to afford the player.

But a stumbling block could be Figo's wages, with the player reportedly earning £4m per year.