The Sun reports that Real Madrid president Florentino Perez held talks with City owner Sheikh Mansour in Dubai this week.
Perez registered his interest in signing Aguero at the end of the season.
A “top Real source” told The Sun: “It is certain that the club’s interest in Aguero was discussed.
“No offer was made, it was more a conversation in which a possible deal was also brought up.”
Manchester City are reportedly considering making a move for Real Madrid keeper Iker Casillas.
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Chelsea have struggled to build momentum in the opening stages of the campaign and are currently looking over their shoulders at the relegation zone.
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