According to Spanish news outlet El Confidencial, the Champions League winners have been offered by Milan to bring the Italian international to the Bernabeu as a substitute for Morata who has virtually joined Juventus bar the official announcement.
It is believed that AC Milan are keen to offload the injury plagued star who is ready to propel back into the ranks of a starting role with a strong return from the injury that ruled himself out for most of last season.
Real Madrid would be as of this moment considering other options but have not ruled out a move for the former Genoa player.
But there may not be much truth to this rumour with El Shaarawy just 21 years of age and is essentially part of new manager Pippo Inzaghi's plans and before being struck down by injuries, he bagged 16 goals in Serie A for Milan in the previous season as a 19 year-old which shows his true quality.