Both Real Madrid and Chelsea seem to have no serious intention to sign Benzema. There is no big advantage to have him in the squad. Benzema even failed to play well in Saudi, how can expect him to play well in Europe? Real Madrid focuses to sign young strikers, their targets are Mbappe and Osimhen. Meanwhile Chelsea already have Nicolas Jackson. Chelsea also prefers to sign young strikers.
The era of Benzema was over, he is no longer in the prime age. Why he must return to Europe now?

Rumors of Real Madrid or Chelsea interest in Benzema will not come true. Moreover, Real Madrid currently really wants to recruit Mbappe, who is still relatively young and whose quality has also been tested. Therefore, I also think that Benzema is unlikely to return to Europe because there are not many club options that want him. Maybe the best option for Benzema if he wants to leave Saudi Arabia is to go to Major League Soccer (MLS) following several other top players who are old and compete there.