Eriksen has continued his fine form with Spurs this season and is now considered one of the best creative midfielders in Europe. And with Luka Modric due to turn 34 years of age early next season, the time has come for Real to consider the future.
According to AS, a Madrid representative got in touch with Spurs 'two months ago' to talk about Eriksen. At that point, Los Blancos were apparently told by chairman Daniel Levy that they would need to offer €250m (£225m) to secure the deal.
Such a number would make Eriksen, who only has 18 months remaining on his current Spurs contract and is yet to agree a new one, the most expensive player in history, smashing the €222m (£198m) record that Paris Saint-Germain set when buying Neymar in 2017.
Perhaps understandably, AS notes that the alleged price tag has 'temporarily diluted Madrid's interest' in Eriksen.
However, it is also said that Real are well aware of the potentially advantageous contract situation that has developed, with Spurs likely to have no choice but to lower their asking price should they not be able to come an extension agreement with Eriksen.
In fact, just earlier this week, The Independent claimed that Real are 'preparing what they hope will be a £100m deal' ahead of the summer transfer window at the end of the season. In that version of events, Eriksen is seen as 'more gettable' than Chelsea star Eden Hazard.