The 27-year-old defender has been with the club for three-and-a-half years, having joined from Lyon for an initial €48m, and has made 123 appearances in all competitions.
The left-back has played the majority of games as the first-choice under manager Carlo Ancelotti this season, starting in 17 of his 18 appearances across all competitions.
According to Defensa Central, Ancelotti is open to letting Mendy go and Los Blancos would be willing to sell if they receive an acceptable offer.
The report outlines that the possibility of Madrid selling Mendy may depend on whether they are able to secure the signing of RB Leipzig’s Josko Gvardiol, who has also been linked with Manchester City and other Premier League heavyweights.
City are paying close attention to Mendy’s situation at the Bernabeu and the Premier League champions are interested in adding more depth at left-back, with manager Pep Guardiola reportedly keen on the defender.
The Frenchman is thought to be among the names on Man City’s shortlist, although the La Liga champions are in no rush to sell their star asset as he is under contract until 2025.
Over the course of his time with Real Madrid, Mendy has helped the team win six trophies, including two La Liga titles, one Champions League, two Spanish Super Cups, and one UEFA Super Cup.