The 19-year-old is set to become one of the most sought-after midfielders when the transfer window re-opens, with a host of top European clubs said to be interested in his services.
Liverpool, Chelsea, Manchester United and Manchester City have all been linked with the England international, who still has three years remaining on his contract at BVB.
However, Champions League holders Real Madrid could rival the Premier League quartet for Bellingham, who is allegedly valued by Dortmund in the region of £131m (€150m).
According to El Chiringuito journalist Jose Alvarez Haya, via Marca, Bellingham wants to join Los Blancos and he is keen to be “part of the generational change in the Madrid midfield.”
Alvarez Haya adds that Man City are “very serious” about pursuing Bellingham and they have already held talks with the player’s family regarding a potential switch to the Etihad Stadium.
However, the midfielder has his eyes set on a move to the Santiago Bernabeu and believes that he can be an “important” player for the Spanish giants.
Since joining Dortmund from boyhood club Birmingham City in 2020, Bellingham has made 100 appearances for the German outfit across all competitions, scoring 13 goals and providing 18 assists.
The teenager is regarded as a first-team regular at BVB, but journalist Florian Plettenberg is certain that the midfielder will not remain at the club beyond next summer, with both Liverpool and Man United still in with a good chance of winning the race for his signature.
“He’s an upcoming superstar player. I am totally convinced he will leave Dortmund in 2023, maybe to Liverpool, maybe to Manchester United,” Plettenberg told Sky Deutschland.
“I think these are two teams that have very good chances to get him. He’s an amazing player, amazing character. Very good personality.”
However, Bellingham refuses to be drawn on speculation over his future and recently insisted that he has not thought about moving away from Dortmund any time soon.
Speaking to reporters before BVB’s Champions League defeat at Man City earlier this month, Bellingham said: “First of all, I’m here to help Borussia Dortmund win the game. If I can play well and showcase my talents, it is a bonus.
“But I’m here to win for Borussia Dortmund and I’m very happy here at the minute and I’m focused on all of the goals we have as a team and I’m not looking past that.
“The club have done loads for me and made me feel very welcome since I first came and gave me the opportunities to develop even further. To look past that and into the future would be disrespectful. It’s not something I am thinking about, to be honest.”
Bellingham is currently away with Gareth Southgate‘s England squad ahead of two UEFA Nations League fixtures against Italy and Germany.