Chelsea have told Real Madrid they must pay £54 million to sign Marcos Alonso, according to reports.

Alonso has emerged as a shock target for Madrid in recent weeks, with manager Julen Lopetegui reportedly keen to add the Spaniard to his roster to replace Theo Hernandez, who left for Real Sociedad earlier this month.

Alonso has already established himself as one of new Chelsea manager Maurizio Sarri’s key players this season, and the Italian is understood to want to keep him at Stamford Bridge.

The full-back has starred in both of Chelsea’s games so far this season against Huddersfield Town and Arsenal – the latter of whom he hit a last gasp winner against on Saturday afternoon in a 3-2 victory.

However, Spanish newspaper AS claim Chelsea could be willing to sell-up if the price is right.

They report Blues director Marina Granovskaia will allow Alonso to leave Stamford Bridge for the princely sum of £54 million.

Atletico Madrid are also understood to be interested in Alonso, but both parties may have to wait until January to complete a deal for the 27-year-old, with Chelsea unlikely to be able to find a replacement before the Spanish transfer window closes at the end of the month.

Alonso, who began his career with Real Madrid, joined Chelsea in 2016 and has since hit an impressive 15 goals in 81 appearances from left-back.