Chelsea and Liverpool to up transfer interest in Madrid ace
The Portuguese international has managed just 14 La Liga appearances this term, sharing the left-back role with Brazilian star Marcelo.
This lack of certainty surrounding his importance to the first-team has led to speculation that he could be on the move at the end of the season.
Chelsea are thought to be long-term admirers of the 25-year-old, and could make a move in a bid to bring in a replacement for the ageing Ashley Cole.
Meanwhile, Liverpool are also in the hunt, with manager Brendan Rodgers being granted a £20m transfer kitty, as well as other funds raised through player sales.
Although they have struggled domestically, the Northern Irishman is still confident of luring big name players to Anfield.
They could face competition from Manchester City, but the Premier League champions are thought to be more interested in other targets.
Real are believed to have placed an £18m price-tag on Coentrao, but they could be willing to accept a lower figure in a bid to push through a move.
Despite his limited playing time, the former Benfica man has managed to notch one goal and assist for the Spanish giants this term.