Real Madrid could return for Yildiz next summer after previously identifying the Juventus forward as a priority target under former coach Xabi Alonso.
The Spanish giants explored the possibility of signing the Turkey international in early 2025, when Alonso was looking for attacking reinforcements amid uncertainty surrounding Vinicius Junior.
The situation eventually changed after Alonso was replaced and Vinicius agreed a new contract, but Yildiz has continued to attract interest from some of Europe's biggest clubs.
Juventus value the 21-year-old at €100 million or more and have made him the central figure of their long-term sporting project.
His importance increased further after the club handed him a new contract worth €7 million per season for four and a half years, with a further €6m signing-on payment.
Yildiz was subsequently declared unavailable for transfer during the summer, with Juventus determined to build around the Turkey international rather than cash in on him.
Real Madrid are not the only major club watching his situation. Arsenal are also looking for an attacking player capable of operating from the left and had previously shown interest in Yildiz.
The Gunners spent €40m on Christos Tzolis during the summer, but that has not necessarily ended their interest in adding another option in the position.
Bayern Munich have also continued to follow Yildiz since his departure from Germany, although a move to Bavaria appears more complicated given their existing attacking options.
Luis Diaz currently occupies the left-sided role, while Bayern also have players including Ismael Saibari, Michael Olise and Jamal Musiala who can operate in advanced positions.
Yildiz's immediate situation is complicated by his injury, which is expected to keep him out until December. That period could give Juventus an opportunity to assess just how significant his absence is to their team.
There is also a longer-term question over Juventus' finances.
The club have already announced a €250m capital increase, while another failure to finish in the Champions League places could force a rethink of their transfer strategy.
One potential replacement is 19-year-old Kerim Alajbegovic, who joined Juventus during the summer for €30m plus €5m in bonuses and operates in a similar position to Yildiz.
If Juventus were eventually prepared to sell, that succession planning could make a 2027 departure more realistic.
Any negotiation would nevertheless begin at a huge figure. Real Madrid have shown they are willing to spend heavily on their preferred targets, and Yildiz could become one of their major attacking priorities.
For now, Juventus have no intention of forcing him out. But another season without Champions League football could change the financial calculation, potentially putting €100m-plus offers back on the table.