Real Madrid is reportedly ready to go head-to-head with Chelsea and Newcastle in the transfer race for Juventus winger Federico Chiesa.

The 20-year old Italian winger piqued the interest of many clubs during Italy's Euro 2020 campaign, where he garnered 2 Man of the Match performances including his excellent showing against Spain in the semi-finals with an exquisite finish to score Italy's only goal of the match.

Chiesa is currently playing his second year on loan from Fiorentina at Juventus. The Turin-based team plans on activating Chiesa's $48m option to buy clause with $11.5m in add-ons, to sign him on a 3-year permanent deal.

According to the Daily Mail, Chelsea, Real Madrid, and newly owned Newcastle are all in hot pursuit of the winger. Chelsea already made a bid earlier this year of $118 million, which was ultimately rejected. Though the Blues are still expected to come back with a better offer.

Newcastle believes they have the right package to lure the Italian to  St. James' Park. Despite a massive influx of cash, Newcastle will have difficulty competing with the prestige Real Madrid and Chelsea bring. Moreover, Real Madrid is prepared to offer Eden Hazard or Marco Asensio in exchange for Chiesa.

It is more likely that Federico Chiesa will remain at Juventus for the next few years, though it wouldn't hurt to see Newcastle compete with these European giants for the promising young star's signature.