Inter Milan had an 85m euros bid for James Rodriguez rejected by Real Madrid over the summer, according to Sports Illustrated.
James, who was also reportedly a target for Chelsea, wants first-team football having fallen down the pecking order at the Bernabeu.
Inter were busy over the summer window, with big-money moves for Gabriel Barbosa and Joao Mario.
The Colombian playmaker and Zinedine Zidane had reached an agreement earlier this summer that the player would fight for his spot rather than seek opportunities elsewhere.
Sources close to Rodriguez had mentioned that he had been offered 85m close to deadline day, but hadn’t revealed what team it was until now.