Everton boss Carlo Ancelotti is being linked with a return to Real Madrid.
Ancelotti is the third Italian to be linked, after Massimiliano Allegri joined Juventus and with Antonio Conte in contention.
Other candidates include Paris Saint-Germain coach Mauricio Pochettino, Castilla's leader Raul Gonzalez Blanco and Real Sociedad B's Xabi Alonso.
El Larguero reports Ancelotti has become an option with Florentino Perez having made initial contact.
The former AC Milan coach was in charge at the Estadio Santiago Bernabeu between 2013 and 2015, winning the Champions League in Lisbon in 2014. He also won a Copa del Rey, Supercopa de Espana and a Club World Cup while at the club.