The former Liverpool man has been out of favour at the Bernabeu since the rise of Daniel Carvajal and was tipped to make a switch in January.
The Spaniard featured for Liverpool 98 times before joining Real Madrid for £5m in 2009 where he went on to lift La Liga and Copa del Rey trophies as well as the Champions League.
However it appears as though the 32 year-old has become surplus to requirements as ‘Los Blancos’ target Porto right-back Danilo.
The Brazilian’s arrival in Spain would mean that Jose Mourinho, Arsene Wenger and Brendan Rodgers would all be free to try and lure Arbeloa to their respective clubs.
Arbeloa recently revealed that he still keeps in touch with former Real boss Jose Mourinho: “With Mourinho a boundary was crossed and at times he got so close that he was like a friend or parent to us.
“He is enjoying himself now [at Chelsea] and I still talk to him, although I have a very good relationship with all my coaches, but I had good times with Mourinho.
“He protected us, stood up for us, and we thanked him for sticking his neck out and taking the bullets. ‘Mourinhismo’ is a way of being, of doing things, always putting yourself forward, defending your ideas to the death, being honest, upstanding.”
By Phil Wellbrook
