The 33-year-old is thought to be surplus to requirements under the new reign of Jose Mourinho at the Bernabeu, and available on a free transfer.
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According to The Sun, agent Barry O'Connor has been tasked with finding the striker a club in England's top flight.
"With a player of this pedigree there is always a lot of interest but nothing will happen until Real Madrid give the official go-head that he can leave," O'Connor said.
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Celtic are keen to bring Portsmouth and England goalkeeper David James to the SPL.
Hoops boss Neil Lennon has confirmed James is his number one summer target, and plans to meet the 39-year-old on his return from a pre-season tour to America.
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Fulham are still hopeful of bringing Martin Jol to Craven Cottage, despite Ajax refusing to negotiate a compensation deal for the manager.
According to the Daily Star, Jol has already agreed personal terms with Fulham, but Ajax appear to be digging their heels in.
We'll keep you posted.
Source: DSG
Source: DSG