Real Madrid are monitoring Miguel Gutierrez's progress at Girona.
The wing-back left Real for Girona last summer and has played a key role in the LaLiga leaders success so far this season.
Miguel hit a stunning goal in victory at Barcelona on Sunday.
And it's emerged keeping close tabs on his form are Real, where they can buy back Miguel next summer for a cut-price 8m.
Also included in the deal is a 50 per cent cut of any sell-on fee generated by Girona should they cash in on Miguel elsewhere.
