Madrid are currently in crisis following reports over the last week about a dressing room in disarray and a petition to force Kylian Mbappe out of the club.
The Spanish giants have gone trophyless this season and are seeking to bring back Mourinho in the hopes that he can turn the side around.
Mourinho's current contract in Portugal has a £2.6M release clause which Madrid are seeking to trigger. The legendary manager opened up on his current deal this week after Monday night's draw with Braga.
He was asked if he is looking to extend his current deal after saying in March that if Benfica “want to renew it for another two years, I'll sign it without arguing a single word.”
“No. Because March 1st is March 1st, and because the last week of the championship, the last two weeks of the championship, is not for thinking about the future, it's not for thinking about contracts. It's for thinking about the mission we had, which was to perform the miracle of finishing second.
"And when I say miracle, I think you understand what I mean by miracle. And from the moment we entered this final phase of the season, with these games that decided something important for the club, I decided that I didn't want to listen to anyone, that I wanted to be, so to speak, isolated in my workspace.
"And then, as I said a couple of weeks ago, there's a game against Estoril on Saturday, and I think that from Monday onwards I'll be able to answer that question, the question of my future as a coach and the future of Benfica.”
Mourinho is now set for a return to the Santiago Bernabeu 13 years on from his first spell in charge, a return that looks almost certain ahead of next season.