Zinedine Zidane has hinted Neymar could yet leave Paris Saint-Germain and arrive at Real Madrid before the European transfer window closes next month.
According to Sky sources, Real are in talks with PSG over signing the Brazil forward, who joined the Ligue 1 champions in 2017, but the La Liga club have not yet made a formal offer for him.
PSG manager Thomas Tuchel said he can understand why supporters are frustrated with Neymar after the Ligue 1 side began their title defence without him by beating Nimes 3-0 on Sunday.
Speaking after Real's penalty shootout defeat to Roma in their final pre-season friendly, Zidane suggested Neymar moving to Madrid remains a possibility, with three weeks to go until the transfer window closes for European clubs.
"Neymar is not [in our squad] but until September 2, anything can happen," Real's head coach said.
"We are with the squad that we have and we are only thinking about that."
Meanwhile, Gareth Bale featured for the first time in four pre-season matches against Roma, which comes after the Wales forward's proposed move to Chinese club Jiangsu Suning collapsed earlier in the window.
The 30-year-old's future in Spain remains uncertain, while his team-mate James Rodriguez has been linked with a host of European clubs, and was recently included as part of a £27.6m offer from Real Madrid for Manchester United's Paul Pogba.
Zidane said: "Bale and Rodriguez are two players in our squad, but anything can happen [until the end of the transfer window]. James Rodriguez is a Real Madrid player under contract, he was not called but everything can change."
When does Europe's Transfer Centre close?
Thought the transfer window was closed? Wrong. Across Europe, plenty of deals are still being done, with Premier League players still able to move to the continent.
The transfer window for Spain's La Liga, Italy's Serie A, Germany's Bundesliga and France's Ligue 1 closes at varying times on Monday September 2. Meanwhile, League One, League Two and Scottish clubs can also do deals until September 2.
Follow our Transfer Centre blog for all the latest news and rumours from the window...