He has attracted interest from several Clubs.
On Monday lunchtime, Marco Asensio gave Marcelo a hug in the Br azilian left-back's farewell event, and then he went on holidays.
The Spain international is scheduled to return to training at Valdebebas on July 8, but right now neither the club nor the player know whether he will still be a Real Madrid player on that day.
After renewing his contract back in 2017, Asensio has one year left on his current deal. Meanwhile, he has changed his long-time agent, Horacio Gaggioli, for Jorge Mendes.
Everything points to Asensio departing Real Madrid, but the Spaniard's priority is to stay put. He is willing to extend his contract and the two parties agreed to meet after Spain's games.
Asensio believes that his performances last season should earn him a contract renewal with a pay rise.
He is currently earning around three and a half million euros, which places him in the bottom third of Real Madrid's salary scale. He maintains that his wages do not correspond to his status as the team's third scorer in 2021/22.
Asensio has not managed to establish himself into Real Madrid's starting XI.
"I'm looking for consistency, I want it for the next few years because for me that confidence is important," Asensio said recently. "I think it's possible to have that consistency at Real Madrid."
As many as 15 Real Madrid players enjoyed more minutes than Asensio last season, as the Spain intentional has dropped behind Rodrygo Goes, who is 14th in minutes played, and Fede Valverde (ninth) in Carlo Ancelotti's pecking order.
Back on July 24, 2019, Asensio picked up a serious knee injury that sidelined him for 318 days until making his return to action in June 2020 against Valencia.
Asensio's scoring ability is undeniable, but he hasn't managed to net as many goals as he should.
Asensio wants to be among Luis Enrique's call-ups for the 2022 World Cup in Qatar. Following his injury, the Real Madrid forward hasn't managed to seal a spot in the national team squad.
Having received a huge boost after being called-up for the last few Spain games, Asensio will compete with Mikel Oyarzabal, who is recovering from injury, and Yeremy Pino for a place in the squad.
Los Blancos are waiting for the meeting with Asensio's agent to find out which are his real priorities ahead of next season. Despite his fine scoring figures, they believe that he hasn't fully lived up to expectations due to his lack of consistency following the injury.
He is not considered as one of the most important players and it remains to be seen whether Real Madrid are willing to meet his demands.
Should the two parties not reach an agreement, Real Madrid's intention is to cash in on Asensio in exchange for an amount close to 40m euros, which is his value according to Transfermarkt.
Kylian Mbappe's decision to stay at Paris Saint-Germain may change Real Madrid's plans, but if Asensio stays put without renewing his contract he in danger of missing out on the World Cup due to lack of playing time.
Despite his lack of consistency, Asensio has attracted interest from several European clubs including AC Milan and Arsenal, while Manchester United also set sights on him a few years ago and Newcastle are considered as one of the potential suitors for his signature.
Asensio possesses a complete skillset but he lacks something needed to become a key player at his team. Perhaps it is a question of mentality or ambition, because his injury issues seem to be over.
However, it is true that Asensio has never played in his position, which is where Luka Modric is featuring as a playmaker, in his bid to show off his shooting and final pass abilities.
He is not a natural winger, but he has often played there. Ancelotti said last summer that he wanted to play him as an attacking midfielder, but Asensio hardly featured in that position last season.
Now he must make a crucial decision which is to either continue chasing his dream of succeeding at Real Madrid or trying his luck elsewhere.