Atletico Madrid were prepared to offer £60m in order to lure Alvaro Morata across the city of Madrid from neighbours Real after returning to the Bernabeu from Juventus.
Reported in Spanish news outlet AS, Diego Simeone's side were keen to take the Spaniard after Los Blancos exercised their buy-back clause inserted into Morata's contract with Juventus.
At the time when the striker returned to Zinedine Zidane's side for around £25m, it looked as though he would be moved on once more in a bid to raise funds to sign the now most expensive player and Morata's former Juventus teammate,Paul Pogba.
Having scored 15 times during his spell in Turin with a crucial goal at the Bernabeu the pick of the bunch as the Old Lady dumped Real out of the Champions League en route to the final, the 23-year-old was not short of potential suitors.
A number of Europe's top clubswereinterested in Morata, including Atletico, before his parent club decided that they would no longer sell the player.
The Rojiblancos ambitious bid was unceremoniously rebuffed by their great rivals, with President Florentino Perez insisting that they would never sell one of their players to the other team in Madrid.
Simeone's side subsequently turned their attentions to former striker Diego Costa, however after Chelsea held firm the club settled for Kevin Gameiro, formerly of Sevilla.
Meanwhile Morata has started both of Real's La Liga games so far this season, filling the void of Cristiano Ronaldo and Karim Benzema by netting in the club's 2-1 win over Celta Vigo on Saturday. However after the two superstars return, Morata is expected to return to the supporting role he undertook in his first stint at the Bernabeu.