Although he has a €40m release clause, Roca will be allowed to leave for between €20m and €25m.
Arsenal have shown the most interest to date, but Madrid are considering Roca as an alternative to Eduardo Camavinga.
Given the high demands from Rennes, Madrid have postponed the signing of teen prodigy Camavinga until 2021.
Roca would welcome a move to the Premier League and swapped agencies earlier this year to a more international company.
According to La Razón, Mikel Arteta’s Arsenal are ‘best positioned’ to sign central midfielder Roca.
Roca has made 33 appearances in La Liga for Espanyol this season, scoring two and assisting one goal.