The Belgium international has been regularly linked with a move to the Spanish giants over the past three or four seasons.
However, a transfer has failed to materialise despite Hazard’s reported desire to play Real Madrid at some point in his career.
The 27-year-old was one of Chelsea FC’s standout players in an otherwise disappointing campaign for the west London outfit.
Hazard has won two Premier League titles in two of the past four seasons as well as winning the EFL Cup, the FA Cup and the Europa League.
The Belgian forward is reported to be holding talks with Chelsea FC over a new deal but the two parties haven’t reached an agreement.
Sunday Times reporter Castles believes Hazard is holding out for a move to Real Madrid before committing to a new deal at Chelsea FC.
“Hazard is waiting to see if a bigger club, namely Real Madrid, come in and make a bigger offer for him,” Castles told the Transfer Window podcast.
“He doesn’t want to decide his future until he knows the manager. It suits him to leave it to a later stage.”
Chelsea FC finished in fifth spot in the Premier League last season to miss out on a Champions League spot.
Real Madrid were 3-1 winners against Liverpool FC in the Champions League final in Kiev last month.
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