Jovic has been on the books at Real Madrid since the summer of 2019, but has struggled to get his Los Blancos career going.
The striker was unable to get regular game time under ex-Real Madrid boss Zinedine Zidane, was shipped off to his former club Eintracht Frankfurt on a six-month loan spell last year and is struggling for minutes under current coach Carlo Ancelotti after returning to Madrid.
Jovic’s situation at Real Madrid has seen him draw admiring glances from the Premier League, with London duo Arsenal and West Ham linked with interest in him.
The 23-year-old is beginning to think about leaving Real Madrid when the transfer window opens in January, but the Premier League is not likely to be his first choice.
Jovic is expected to prefer a move to Italy or Germany in the winter transfer window provided he receives offers.
Arsenal are overhauling their squad and could swoop for Jovic in the next window as their current attack is comprised of the likes of a 32-year-old Pierre-Emerick Aubameyang and Alexandre Lacazette, 28.
West Ham are yet to find a replacement for Sebastien Haller and they could also move for Jovic.
It remains to be seen whether Jovic will leave Real Madrid in January and what terms Los Blancos might demand.