Real Madrid have warned Middlesbrough that they will have to pay big money if they want to sign Geremi on a permanent basis.
The Cameroon international is on a season-long loan at Boro and manager Steve McClaren has an option to sign him permanently at the end of the season.
The price currently stands at £9.6m - and Real have told Boro they will not be able to buy Geremi at a reduced cost.
"The English have an option to buy Geremi for 14 million euros (£9.6m)
and we will not lower that figure even though they want him cheaper," said Real Madrid director of sport Jorge Valdano.
"Geremi is having a great season with Middlesbrough and we think he will be very useful for us next season."
Real believe Geremi`s adaptability could help plug gaps if players of the calibre of Ivan Helguera or Claude Makelele are injured.
"He would help solve some of the problems we have been having in midfield and defence," said Valdano.
