The Spain international has been in contract negotiations with Los Blancos, but the club have not made a breakthrough over a renewal.
The Madrid giants have urged him to take a 10 percent pay-cut on his current £3m salary, which has led to the stand-off.
According to ABC, the versatile winger is attracting interest from some of Europe's elite sides including the Blues and Red Devils.
Bayern Munich and AC Milan are also keen on his services, and the quartet are prepared to bow to the player's demands.
Vazquez reportedly wants an increase on his current salary and on top of this, he is said to want at least a four-year contract.
The 29-year-old, who can play as a right-winger or right-back, has registered two goals and seven assists in 31 appearances for Los Blancos this term.
Content created and supplied by: Updates4Real (via Opera News )
Opera News is a free to use platform and the views and opinions expressed herein are solely those of the author and do not represent, reflect or express the views of Opera News. Any/all written content and images displayed are provided by the blogger/author, appear herein as submitted by the blogger/author and are unedited by Opera News. Opera News does not consent to nor does it condone the posting of any content that violates the rights (including the copyrights) of any third party, nor content that may malign, inter alia, any religion, ethnic group, organization, gender, company, or individual. Opera News furthermore does not condone the use of our platform for the purposes encouraging/endorsing hate speech, violation of human rights and/or utterances of a defamatory nature. If the content contained herein violates any of your rights, including those of copyright, and/or violates any the above mentioned factors, you are requested to immediately notify us using via the following email address operanews-external(at)opera.com and/or report the article using the available reporting functionality built into our Platform See More