Riquelme is expected to challenge Florentino Perez at this summer's presidential selection.
And has insisted that he would prefer to have Liverpool manager Klopp or club legend Raul ahead of Zidane in the hotseat.
"Zidane would not be my coach," he told El Partidazo de COPE. "I personally like Klopp a lot and Raul is doing very well."
Klopp, whose Liverpool side face Real in the Champions League quarter-final first leg on Tuesday night, has a contract at Anfield until 2024. While Raul, who scored 324 goals in 16 years at the LaLiga giants, is managing Real's reserve team after stepping into coaching in 2018.