AS: Theo Hernandez ‘happy to return’ as Real Madrid eye cut-price deal – the situation | OneFootball

Theo Hernandez’s AC Milan future remains up in the air until a renewal arrives, and a return to Real Madrid could become an option.

Diario AS reports that Real Madrid are searching for a new left-back and have begun to narrow down the list of candidates. They have Theo Hernández’s name on it, because he ticks a lot of boxes in terms of what they are looking for.

There is of course the romantic aspect of a return to Los Blancos, but he also has the qualities the club is looking for. He has experience (27 years old), could arrive under favourable conditions (his contract with Milan expires in 2026) and is versatile.

A welcome return

In 2017-18, he was part of the Real Madrid squad during Zidane’s first era, but at just 19 years of age he saw his path to a starting spot blocked and so left for Milan. Returning to the Bernabéu would be very welcome for the left-back, as per the source.

The contractual issue is important, especially when considering the price tag. The Frenchman’s high market value plummets as he only has one more year on his deal with the Rossoneri. Theo hasn’t renewed his contract and appears ready to test the market.

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He is much more accomplished than when he embarked on the Madrid-Milan journey back in 2019. Theo’s time as a Rossoneri player has been outstanding, although the Milanese team are now drifting, ninth in Serie A with no Champions League football in 2025-26 almost certain.

That would make them receptive to offers for Theo, who cost them €20m and is already fully amortised. Real Madrid are sensing a potential ‘bargain’ deal while La Gazzetta dello Sport, on the other hand, still believe in a renewal.