Manchester City boss Manuel Pellegrini has declined to comment on speculation linking Sergio Aguero with a move to Real Madrid.
The European transfer market took on a different look on Thursday when Real and Atletico Madrid were both banned from registering new players for two transfer windows.
They will both appeal, which will buy them some time and could potentially defer a final decision until after the summer window.
The speculation is Real would then go on a spending splurge in the summer, with City striker Sergio Aguero among those linked to the Spanish giants.
Pellegrini declined to comment on Aguero but insisted City are on the right track to rival Real as a destination for the very best players.
The Chilean said: “I think it’s a club that wants to be on the same level. I think we are improving every year in achievement, in the way the club is growing in every department.
“Real Madrid has a long and important story but I am sure this club is going in the correct way to try to do it.”