Marcelo is subject to interest from Italian side Juventus and a reunion with Cristiano Ronaldo, according to reports.
Tuttosport follow up claims from last month that saw the Brazilian full-back linked with a move to the Serie A champions.
Marcelo saw former team-mate Ronaldo complete a move to Turin earlier this summer and interest from Juve could see the duo reunited.
The 30-year-old is thought to be seriously considering a summer exit and with Paris Saint Germain’s interest in Alex Sandro said to be gathering pace – a void could be open at the club.
Juve are said to be asking for a €40m-€50m transfer fee for Sandro with the Italian transfer market set to close on August 17th.
Madrid are said to be dis-interested in allowing Marcelo to leave the club, given that he is one of the club captains and that they have no dedicated back-up to the defender.
Meanwhile, Madrid have completed the signing of Thibaut Courtois from Chelsea, seeing Mateo Kovacic leave the club as part of the deal.
Courtois’ arrival sees him take the number one spot at the Santiago Bernabeu over Keylor Navas, who despite reports – is expected to see out his final two years of his contract at the club.