I feel like they prefer really high profile and marketable players and Fekir doesn’t really fit the bill. He’s having a terrific season but he’s not really a household name.
I think Real Madrid would want guys like Kane, Hazard, de Bruyne, Neymar, Griezmann, Alli, Dybala, Aguero, Mbappe, etc. I don’t think Fekir fits into that category at the moment. In other words, I think their fans would be underwhelmed if he was their marquee signing.