Espanyol are in talks with Real Madrid over Castilla midfielder Alex Fernandez and are offering Cristian Gomez in return.
The Catalans have reportedly been in talks for several weeks over a move for central midfielder Fernandez, offering the Spain Under-20 international a four year deal.
The 20-year-old, who has one senior appearance with the Santiago Bernabeu outfit to his name, is available to leave the club this summer, deciding against signing a new contract.
Reports are that Los Pericos are offering 24-year-old Gomez to Castilla on an initial one-year loan deal in exchange for Fernandez.
Madrid are seen as being given a purchase option of around €5m for Gomez too, with a provisional four-year contract with the midfielder in place.
Fernandez, however, is believed to have offers in place from other clubs to consider too.