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The 31-year-old has been criticised for some below-par performances this season but admitted he wants to commit his long-term future with the European champions.
Manchester United goalkeeper David de Gea has been linked with a move to Real and would replace Navas between the sticks. However, it’s believed Los Blancos have made no contact with de Gea since his botched transfer during the summer of 2015.
Navas has the trust of his manager Zinedine Zidane, although his future might now depend on whether the French coach remains Real boss beyond the summer.
Real’s title defence has been distinctly average and sees Barcelona 15 points clear of Zidane’s men at the summit.
Real are in the semi-finals of the Champions League, chasing a third consecutive European crown, but failure to win the trophy might see the 45-year-old parting company.
Los Blancos were the first-ever side to retain the Champions League since the tournament’s rebranding, and could be the first club to win the European crown for a third straight season.
It’s not hard to see why Navas is keen to stay at the club, but it’s a blow for Arsenal’s hopes of landing a long-term replacement for Petr Cech.