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The 34-year-old Real captain can start negotiating a deal with a new club from 1 January and naturally there are plenty of teams interested, with one Premier League club already lining up a serious offer.
That's according to Spanish radio station Onda Cero, which reports that while there are still negotiations between Real and Ramos, the defender is now firmly 'thinking about leaving'. Clubs in Italy and in England are preparing to table offers.
Zinedine Zidane, the Real manager, is apparently keen to keep the player in his side. But Ramos's contract is gradually running down and in three weeks, he can officially start speaking to other clubs.
It's perhaps surprising that the situation has gone this far. Ramos has spent 16 seasons in Madrid since signing from Sevilla in 2005. He's played over 650 games for the Spanish giants and been integral to five La Liga wins, four Champions League titles and many more trophies.
But Real Madrid president Florentino Perez hinted in November that Ramos could indeed leave the club in 2021.
Apparently the sticking point is Ramos wanting a two-year deal to take him up to 2023, while Real have a policy of only extending the contracts of veteran players by 12 months at a time. So now we're in a position where the centre-back really could walk away.
PSG are reportedly showing an interest, with the French champions ready to offer Ramos a three-year deal worth £18 million per season per the Daily Mail.
Several big Premier League clubs are also said to be seriously considering an offer for a player who turns 35 in March, but brings a wealth of trophy-winning experience and a proven ability to perform on the biggest stages.
Liverpool hero Steve Nicol recently argued that Ramos is on the wane and the Reds would be seen as "desperate" if they moved for him in January. However the Premier League champions also have their long-term injury concerns in defence.
Will we see Sergio Ramos playing for the a major Premier League or Serie A club in 2021? Or will Madrid crack and offer their captain the deal he wants? Let us know your thoughts in the comments.
All imagery: PA Images
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