The report claims that the reigning La Liga champions are in the hunt for an additional striker to add depth upfront and Cardozo does have years of experience playing at the highest level in Portugal as well as European and international football.
The Paraguayan international joined Trabzonspor from Benfica on a €5 million move in the summer of 2014 on a three-year deal.
The experienced striker earns €2.5 million per season and still has another two-years remaining on his deal.
Cardozo was linked with Ajax last season but the Black Sea Storm wanted €10 million for the prolific goal scorer.
The 31-year-old has five goals and two assists in 555 minutes of Turkish Super League football this season. In total Cardozo has 25 goals in 55 games since joining the Black Sea based side from Benfica.
Cardozo had a prolific record at Benfica scoring 165 times in 287 games for the Portuguese giants.