Real Madrid star Iker Casillas has been told by the club’s hierarchy that his contract will not be renewed, and that they would prefer to sell him at the end of the season if possible, as reported by fichajes.net.

Casillas had been hopeful of renewing his contract, but with the club clearly not interested, he is not willing to sit around next season as backup either, meaning that a transfer would be ideal for both parties.

Real have even begun looking for another goalkeeper to replace Casillas, who will compete with Keylor Navas for the first team role next season.

This will put both Arsenal and Liverpool on red alert, with both clubs thought to be looking for another goalkeeper.

Arsenal saw summer recruit David Ospina suffer an immediate injury, putting him out for a length of time.

Liverpool boss Brendan Rodgers has also reportedly lost faith in current first choice Simon Mignolet.

Real Madrid goalkeeper Iker Casillas has revealed that he has no interest in making a move away from the Spanish giants in the near future, as reported by the Daily Star.

Casillas has been consistently linked with a switch to the Premier League, with both Arsenal and Liverpool touted as potential destinations for the Real star.

However, Casillas has denied any desire to move to the Premier League duo, or even leave the Santiago Bernabeu club.

He said: “There’s always speculation here but after all the stories, the rumours, I’m still here.

“There’s never been a chance for me to go anywhere else because I’ve never thought about it.

“All the presidents I’ve had have said: ‘The day you don’t want to be here, just come and tell me.’ And I’m still here. It started here and I want it to finish here.

Casillas became the highest appearance maker in the history of the Champions League tonight in Real’s game against Liverpool in the group stage.

He surpassed the previous record set by Barcelona’s Xavi Hernandez, who has recently been targeted by FC Tokyo.

The keeper has struggled to maintain a place in Real’s first team over the last few seasons, but is now first choice again under Carlo Ancelotti.

He played a key role as Real won the Champions League last season.