Real Madrid presidential candidate Juan Miguel Villar Mir claims to have spoken to Arsenal boss Arsene Wenger about the Spanish club's managerial vacancy.
Wenger (right) was delighted when striker Thierry Henry rejected a move to Barcelona
Wenger has always said he will honour his Gunners deal but Villar Mir alleged he has also sounded out Juventus general manager Fabio Capello.
Villar Mir told the News of the World: "We have opened negotiations with two managers, Wenger and Capello."
The Real presidential election is set to be held on 2 July.
The election will decide who replaces Fernando Martin, who left the post in April - only two months after replacing Florentino Perez, who resigned in February.
Wenger, 56, who celebrates 10 years in charge of the Gunners in September, was touted as a possible replacement for former Real boss Wanderley Luxemburgo last December.
He said then: "I'm under contract until 2008 and I always try to respect that. That's not disrespectful to Real Madrid, it's just my line of conduct."
And a move to Spain still seems unlikely after Wenger guided Arsenal to the Champions League final in May and while he is also preparing to usher in a new era at the club's new Ashburton Grove home for the start of the 2006-07 season.