It was an interested 2025-26 for Leverkusen, starting the campaign with former Man United boss Erik ten Hag in charge and then sacking him after just two competitive games.
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Leverkusen then hired Kasper Hjulmand but after failing tot qualify for the Champions League, he is expected to leave the club this summer.
The Germans have since been linked with Andoni Iraola, who will now take charge at Liverpool, and Felipe Luis, who was unable to get the necessary paperwork.
According to Bild, they have now turned down the chance to hire Arbeloa, 43, who just left Real Madrid following his brief stint in charge of the first team.
Despite Arbeloa’s profile, Leverkusen were unconvinced that he was the right man to take the club forward.