Real Madrid turned down chance to sign Joao Cancelo before Bayern Munich transfer as they're happy with current squad

• Madrid offered Cancelo but turned him down
• Barca also in the running to sign him
• Real saving up for Bellingham in summer

WHAT HAPPENED? Cancelo signed for Bayern on loan with a buy option of €70 million (£62m/$76m). However, the out of favour full-back was offered elsewhere, and Madrid were one of the club's City reached out to, according to journalist Fabrizio Romano.

WHAT THEY SAID: "Barcelona was almost impossible because of the salary of the player," Romano said on his CaughtOffside Podcast. "Real Madrid was also an option, but they decided not to sign any players in January."

THE BIGGER PICTURE: Madrid have been struck with an injury crisis in recent weeks, with midfielder Eduardo Camavinga forced to play left-back and 32-year-old Nacho lining up on the right side of defence. Still, Madrid decided to save for the summer, when they are expected to be in for England star Jude Bellingham, who is poised to leave Borussia Dortmund.

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WHAT NEXT FOR CANCELO? The full-back figures to be an important piece for Bayern as they push for a Bundesliga win and Champions League glory. Whether he stays beyond this year remains to be seen.