Metro reports that Madrid boss Carlo Ancelotti has told his scouts that Ramires is one of his targets for January.
Ancelotti is keen to bring in a new box-to-box midfielder and have been linked with a number of such players in recent weeks.
Ramires joined Chelsea when Ancelotti was in charge at Stamford Bridge and reports suggest the midfielder would be keen to link up with his former boss again.
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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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