The Italian international's contract with the Spanish champions runs out at the end of the season, and his future still hangs in the balance.

Cannavaro seeks to settle down as quickly as possible, so as he becomes fit enough to take part in the 2010 World Cup. But apparently he has reservations about playing either in the Premiership or the Bundesliga.

"There will be the World Cup next year and I want to stay relaxed," Cannavaro told Gazzetta dello Sport.

"I didn't want to have to start from scratch with the World Cup around the corner and that's why I have turned down Manchester City and Bayern."

Real are yet to offer Cannavaro a new contract, and the 35-year-old is already on the lookout for a new move.

"Real Madrid told me I would have to wait until after the presidential election (to find out about a new contract).

"They also advised me to look around, and I have asked my agent to see if he can find a solution," Cannavaro elaborated.

Fascinating Proposal

Following speculation that he might move to Juventus or hometown club Napoli, Canna's agent Gaetano Fedele said his client is poised to rejoin the Old Lady.

"We are waiting for the Bianconeri to send Real Madrid a fax," Fedele told Radio Kiss Kiss.

"The proposal made to us by Juventus is the most fascinating for many reasons. For now, Fabio will think about finishing the season with Real in the best way possible."