The Belgium global has found back of the net 10 times for both dethroned Premier League Champions and country by the start of October but the 27-year-old forward has failed to score for the Blues and World Cup third place in his last 11 matches.
Further reports in Spanish press claim Isco or Marco Asensio could be included in the deal.
Since joining Chelsea in July 2012 Azar in all tournaments played 310 games, scoring 97 goals and 78 giving assists.
Telemadrid write that Mateo Kovacic (who is now on loan at the Blues) or Marco Asensio will be used in a player plus cash deal in order pry Hazard from Stamford Bridge.
Hazard's coach, Maurizio Sarri, is also keen for Chelsea to keep the former Lille man, telling the media this week: "It's up to him".
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"But I want him here if he wants to stay here".
"I saw him when he was young, now he is not so young but he can still improve".
'It is not easy to answer, but I have seen in the last matches we didn't react as a team or eleven players, so it is a big problem. In some matches we have lacked it, like in the last match, ' Sarri said.
However, Wise believes the club must prove their ambition to Hazard, first by qualifying for the Champions League and second by signing "quality" players.
"They are very important players for us". You need to show that on the pitch you want to win and you deserve to win. And so, I think they have to stay with us. I know Joao Moutinho was playing in France and I watch the French league so I know him.