Meanwhile, Arsenal could lose Jack Wilshere for similar reasons.
Vazquez is said to be thankful to Zinedine Zidane for the chances he has been given in the squad this season.
However, the Spaniard has been unable to hold down a regular starting spot and is considering leaving the Bernabeu in search of regular football.
Diario Gol add Tottenham and Roma are also interested in signing the midfielder.
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Ronaldo is said to be good friends with Lucas Vazquez.
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Ronaldo has apparently uncovered that Vazquez’s concerns are that Real are planning a mass shake-up of their squad and he will then fall further down the pecking order.
Los Blancos need to freshen up their squad after a disappointing season in La Liga.
The Spanish champions currently sit third in the table, 15 points behind Barcelona.
And Vazquez could make way in the summer to allow the arrival of new players.