That is according to El Confidencial, who report that the Spanish club will need to cough up a huge junk of money if they are to sign the Senegal international from the Merseyside club ahead of the 2019-20 season.
Real are planning a huge overhaul in the European summer with Mane, Manchester United Paul Pogba and Chelsea star Eden Hazard all linked with a move to the Bernabeu.
Zinedine Zidane’s reappointment last month followed after the club’s elimination from both the Spanish Copa del Rey and Uefa Champions League within the space of a week.
Real also sit 14 points behind La Liga leaders and fierce rivals Barcelona.
Mane, who has 21 goals in 42 games across all competitions this season, found the back of the net for Liverpool in their 3-1 loss to Real in last year’s UEFA Champions League final.
The 27-year-old has continued to impress for the Anfield club in the current campaign as they push for league and European honours.