Real Madrid want Vinicius Junior to stay and sign a new contract, and that remains the player's preference, but doubts about his future have intensified with some sources not ruling out a summer departure. Contract talks have stalled since last May with his current deal expiring in 2027, according to multiple sources.

Sources close to the Brazil forward believe no contract agreement will be reached before the 2026 World Cup, meaning Vinicius could enter the final year of his deal. The lack of progress raises questions about whether Madrid are willing to take that risk.

Vinicius has scored zero goals in his last 16 games and has been whistled by Madrid fans. His relationship with coach Xabi Alonso has been strained during the difficult stretch.

Sources close to the player blamed Spanish media coverage for the Bernabeu crowd's treatment. The only solution is viewed as Vinicius rediscovering form and the team improving overall, which would reduce tension and create conditions for a compromise agreement between Madrid and his camp.

Previous interest from Saudi Arabia has cooled, and Vinicius would not favor a move there in the event of a departure, sources said. The forward prefers joining a top European team if he leaves Madrid.

Despite recent links, there has been no official approach from Chelsea, sources close to the player told ESPN.

Most top clubs would hold interest in a player of Vinicius' caliber, but Chelsea sources told ESPN they expect a quiet January while focusing on summer plans. The Blues would need to create squad space and finances for a deal of that magnitude.

While Chelsea's transfer activity makes them difficult to rule out entirely, a January move seems highly unlikely given current circumstances.