Los Blancos could have a rebuilding task on their hands in attack at the close of the current campaign as there is speculation over the futures of both Karim Benzema and Gareth Bale, while Cristiano Ronaldo will be 33 in February.
RB Leipzig’s Timo Werner and Antoine Griezmann, of city rivals Atletico, have been mooted as potential targets but Spanish reports indicate Italian Belotti tops their wishlist.
The 23-year-old managed 28 goals in 38 appearances for Il Toro last season and also has an impressive scoring record for the Azzurri, with four goals in 11 appearances, and has previously been linked with Manchester United, amongst others.
Belotti will not come cheap, however, as Real will almost certainly have to match his 100million euros release clause to force through a deal.
A goal apiece from James Tomkins and Luka Milivojevic handed Crystal Palace a crucial 2-0 win over Huddersfield at the John Smith's Stadium on Saturday evening.
Manchester United bounced back from their Champions League exit as they beat Brighton 2-0 at Old Trafford on Saturday night to reach the FA Cup semi-finals.
Tottenham reached the FA Cup semi-finals after they cruised to a 3-0 victory over Swansea in their quarter-final clash at the Liberty Stadium on Saturday.
Premier League basement club West Brom squandered the lead as they suffered a 2-1 defeat to Bournemouth at the Vitality Stadium on Saturday.