Kovacic signed for Real Madrid from Inter Milan in 2015 on a six-year deal, joining up with his Croatian compatriot and “idol” Luka Modric at the Bernabeu.
However, Kovacic has struggled to command a regular starting role in Zinedine Zidane’s squad, making 19 starts in La Liga last season and completing a full 90 minutes on just nine occasions.
Standard Sport understands that Champions League holders Madrid are considering selling Kovacic, with the 23-year-old midfielder currently being offered to clubs around Europe.
Spurs have been made aware that Kovacic is available, but his contract demands could prove to be a stumbling block given Spurs’ rigid wage structure compared to their Premier League title rivals.
Any potential sale of Kovacic would hand Madrid valuable funds as they explore the possibility of making a world-record move for Monaco’s Kylian Mbappe, who is also wanted by Arsenal.