The move would see the duo both return to the Spanish giants just a few seasons after they left for Old Trafford.
Raphael Varane has been linked with a shock return to Real Madrid
Casemiro could also head back to his former club
Varane, 30, played 360 times for Real Madrid before sealing a £41million switch to Man Utd in 2021.
Casemiro, 32, then followed him the a year later for £70m after winning five Champions League with Los Blancos.
But both have supposedly been put up for sale by Sir Jim Ratcliffe.
Ineos are desperate to recoup some of the cash they spent on them to fund their own spending.
Varane and Casemiro are both among the club's top earners.
And according to a shock report by Spanish outlet Fichajes, Real Madrid are analysing whether they should re-sign the duo.
Their experience at the club is considered valuable to manager Carlo Ancelotti.
But Real Madrid could face competition from Saudi Arabian clubs in the race to sign Varane and Casemiro.
And with Ratcliffe planning a squad overhaul, they may not be the only two players leaving Man Utd.
Victor Lindelof, Aaron Wan-Bissaka, Sofyan Amrabat, Antony and Anthony Martial have all been tipped to depart.
Meanwhile, SunSport can exclusively reveal that the Red Devils are interested in signing Luton star Ross Barkley in a bargain deal.
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