Whilst there has been no official confirmation, it is now widely assumed that Carlo Ancelotti will not be the Real Madrid coach come the start of the 2025/26 season.
The most likely replacement for Ancelotti is Bayer Leverkusen coach Xabi Alonso, with the Spaniard having played for the club in the past. His Bundesliga-winning season in 2023/24 led to huge speculation over his future, with Real Madrid and Liverpool the two most likely destinations.

Alonso chose to stay at Leverkusen and Liverpool appointed Arne Slot, who has won the Premier League at his first attempt and does not look to be leaving any time soon. Alonso has been less clear about his future this time, which has only fueled the Real Madrid rumors.
According to COPE, Leverkusen could look to use Real Madrid's interest in Alonso to their advantage and go in an interesting direction when it comes to their next coach.

The German side holds an interest in Real Madrid U19 coach Alvaro Arbeloa, who played for both Real Madrid and Liverpool during his playing career. He has done well this season and has been linked with replacing Raul Gonzalez at Real Madrid Castilla, but now a move to Germany has potential.
The report claims that Arbeloa has already received a proposal from Leverkusen, which is being considered, but Real Madrid views him very highly and thinks that he will manage the first team in due course.
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