Arsenal forward Jose Antonio Reyes' agent has confirmed negotiations are continuing in a bid to secure a permanent move to Real Madrid.
The Spain international spent last season on-loan at Madrid, helping them win the Primera Liga title, and is eager to remain at the Bernabeu.
His agent Jesus Rodriguez de Moya said: 'Reyes doesn't want to return to London.
'If the logical steps are taken, Reyes will be a Madrid player next year.
'Arsenal are not asking for 20 million euros (£13.6million) but they are asking for a reasonable fee in accordance with what they paid to Sevilla. The negotiations are on the table.'
The 23-year-old, who joined Arsenal from Sevilla for £9million in January 2004, scored twice as Madrid clinched the league title with a final-day 3-1 defeat of Real Zaragoza.
