Real Madrid president Florentino Perez has reportedly identified Xabi Alonso and Raul as potential replacements for current head coach Carlo Ancelotti.
The 63-year-old returned to Bernabeu for a second spell at the helm last summer, and he led Los Blancos to a La Liga and Champions League double last term, in addition to lifting the Spanish Super Cup.
Real Madrid have won nine of their 10 games in all competitions this season, remaining unbeaten in the process, and Ancelotti has already delivered a trophy in 2022-23, securing the UEFA Super Cup in August.
The head coach still has another two years left to run on his contract, but a recent report claimed that the Whites were considering opening talks with the Italian over an extension.
The experienced manager recently said that he would retire once his second spell in charge of Real Madrid has come to an end, telling Il Messagero: "This stage at Real will end my career. After Los Blancos, I'll stop. Real is the top of football. It makes sense to put an end to it after this experience."
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However, earlier this year, Ancelotti said that he would be prepared to spend "another 10 years" in charge of the reigning Spanish and European champions if they wanted him.
"After this period at Real Madrid it is likely that I will retire. But if Real Madrid want me to be here for another 10 years, I'll be here for another 10 years," he told Amazon Prime Video.
"I would like to be with my grandchildren, to be on holiday with my wife. There are so many things to do that I've had to put aside. There's a lot of places I've never been to.
"I've never been to Australia. I've never been to Rio de Janeiro. I want to go visit my sister more often. Unfortunately you can't do everything, so the day I retire, I'll have all these things to do."
Despite Ancelotti's success, Real Madrid president Perez is reportedly putting together a shortlist of potential replacements, and both Alonso and Raul are seen as genuine candidates for the role.
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According to Media Foot, Perez wants a former player to be the club's next manager, with Zinedine Zidane previously enjoying success in the role.
Raul, who made 741 appearances for Real Madrid during his professional career, is currently in charge of the club's Castilla outfit.
The 45-year-old has been in the role since 2019, and it is thought that he could be given the chance to lead the first team once Ancelotti departs.
However, Alonso is also allegedly a candidate, with the 40-year-old turning out for the club as a player between 2009 and 2014, making 236 appearances.
The former midfielder, who is also currently being linked with the managerial role at Bundesliga giants Bayer Leverkusen, was in charge of Real Sociedad B between 2019 and 2022.
