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The 31-year-old Madrid flop has endured an ill-fated spell at Los Blancos and only managed 59 appearances in his two-and-a-half seasons at his La Liga club.
Hazard, who was signed by Madrid in 2019 from Chelsea, is now considered surplus to Los Blancos manager Carlo Ancelotti and allowed to leave the club.
The Belgium international is earning a hefty £416,000 per week at Madrid, with the Spanish club keen to offload him in a bid to free up their wage bill.
According to Nacional, Newcastle tabled a £33m (€40m) offer and another £8.3m (€10m) in ‘variables’ to secure Hazard from Madrid.
The Spanish newspaper reports that the Premier League club’s £41.3m offer ‘met the expectations’ of Madrid president Florentino Perez.
Perez accepted the offer from the Magpies, but it has been reported Hazard scuppered the transfer.
Hazard reportedly ‘said no’ to the proposal from Newcastle and is only interested in signing for a ‘big player’ in football.
The former Chelsea star, who has been heavily linked with Newcastle in recent weeks, believes a move to St James’ Park is ‘not an option.’
Hazard, who is under contract until 2024, has made six starts in 13 La Liga appearances this season and only registered one assist.
The Madrid winger has attracted interest from former clubs Lille and Chelsea and Premier League sides West Ham and Everton.
Newcastle manager Eddie Howe is believed to be interested in securing another forward before the January transfer window shuts.
The Magpies have already splashed out on signing England right-back Kieran Trippier from Atletico Madrid and New Zealand striker Chris Wood from Burnley.
Belgium manager Roberto Martinez claimed Hazard is “sad” at Madrid due to his lack of playing time, but called the Los Blancos winger an “exceptional talent.”
He told El Partidazo de COPE last November: “Hazard is medically in his best moment since he arrived at Real Madrid.
“He is sad in football terms, this is the first time that he is experiencing this situation.
“He is a player who has always led winning projects and now he doesn’t have that role, but he is a footballer of exceptional talent and that is never lost, you have to have faith in him.”
Featured Image Credit: PA
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