Arrizabalaga joined the Spanish juggernauts on loan during the summer transfer window when Thibaut Courtois picked up a long-term injury at the start of the season.
He has deputised for his Belgian counterpart but has struggled to nail down a starting berth in Carlo Ancelotti’s set-up.
The Spanish shot-stopper has featured 18 times across all competitions, keeping seven clean sheets.
However, he has been forced to share his starting berth with Andriy Lunin, who has recorded five clean sheets in 12 appearances in all competitions.
Ancelotti has previously stated that he has no preference for who starts in goal as both keepers have failed to earn his confidence and would continue to fight for their place in the line-up.
Regardless of the manager’s remarks, Arrizabalaga has previously expressed his desire to remain at Santiago Bernabeu beyond the end of the season, but Madrid are unlikely to meet Chelsea’s valuation.
The Blues are more than willing to cut their losses on Arrizabalaga, who etched his name into footballing folklore as the most expensive goalkeeper on the planet when he moved to London for €80m.
His time at Stamford Bridge has gone remarkably off-script, with the Spaniard now considered one of the worst signings in the club’s history.
Arrizabalaga was only seen as a stop-gap solution to the goalkeeping crisis at the Bernabeu, and the Spanish giants are unlikely to make his stay permanent next summer.
He sat out Madrid’s 4-2 derby defeat to Atletico Madrid in the Copa del Rey round of 16 but was recalled to the starting line-up in the controversial 3-2 La Liga triumph over relegation battlers UD Almeria.
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