Latest News as of Tuesday May, 28
The president of the Spanish giants claimed that he really did not have an idea of who the new manager would be, but that Zidane would be the man to take the club forward behind the scenes.
It is clear that Carlo Ancelotti remains the favorite to take over the position left by Jose Mourinho.
Marca revealed that the PSG manager has two top prospects to be his assistant if he is to join Real Madrid. Fabio Cannavaro remains his top selection, but Claude Makelele is in the running as well.
With Ancelotti being vocal about his desire to join Real Madrid, the club just might get their man.
News as of Thursday May, 23
The Telegraph has given new hope to Real Madrid's search for a capable replacement of Jose Mourinho. It appears as though the club is preparing to contact Jupp Heynckes who will be retiring from Bayern Munich.
The German manager has top level experience and knows what it is like to coach in Spain and in the Champions League.
There are no many managers capable of bringing the coveted La Decima to Real Madrid, but Jupp Heynckes is one of those men who can deliver.
It is looking more likely that Jose Mourinho will be heading back to Chelsea this summer.
Goal has quoted current Chelsea striker, Demba Ba, as saying that the players are excited about possibly working with Mourinho. The club appears to believe that Mourinho will be returning.
However, one possible replacement for Jose Mourinho has been taken off the list.
If reports from Sky Sports are to be believed, Rafa Benitez has agreed to take over as Napoli's manager on a two-year deal. With the current Chelsea boss now off of Madrid's radar, the club will have to zero in on other candidates.
News as of midday Tuesday May, 21
Spanish site Inside Spanish Football, has reported an interview with L' Equipe regarding the situation between PSG and Carlo Ancelotti. The club's refusal of his request to exit the club may not be set in stone.
The interview revealed that the French club has made no official decision, but wishes to keep Ancelotti in Paris.
If their plans of keeping the high-profile manager do not work out, they will have to look elsewhere to replace the manager. Rafa Benitez has arisen as their top target according to the report.
With PSG now having another option to replace Carlo Ancelotti, Real Madrid may actually have a chance at bringing the manager to Spain.
News as of late Monday May, 20
Real Madrid's president has again had the spotlight today regarding the management position at the Spanish club.
Ancelotti also appears willing to accept the position, however, PSG has no intentions of letting the manager leave before finishing out his contract which still has one year remaining on it.
More news to follow tomorrow so stick around for constant updates on the situation at Real Madrid.
News as of late afternoon May, 20
It has become official. Real Madrid president, Florentino Perez, announced late Monday afternoon that the club would be parting ways with Jose Mourinho.
The exclusive report from Goal mentioned that the manager would not be receiving any compensation upon his departure. The decision was mutual between the two parties and now the hunt for a replacement can truly begin.
Florentino Perez had these words to say regarding Jose Mourinho's termination.
"The club and coach believe the time is right to bring our relationship to an end. I would like to thank Jose Mourinho for all of his hard work over the last three years. The team has improved over his time here and I would like to wish him all the best."
News as of early morning on May, 20
As the summer quickly approaches, so does the imminent exit of Jose Mourinho from Real Madrid. With sources such as ESPN claiming that the Portuguese manager is expected to leave really soon, the club will be in the market for a new manager.
Mourinho will not leave Spain with his head held high, mind you.
The Special One came to Real Madrid with the plans of ending Barcelona’s dominance and bringing La Decima. He will leave having only won three trophies since he joined the club.
This leaves Real Madrid with a very tough task this summer in finding a replacement. Every time Mourinho has left a team, the club has suffered. So Florentino Perez will be hard pressed to make sure his new manager is capable of leading Los Blancos his first season in charge.
Though rumors have been swirling since the New Year began, it appears as though the club has its heart set on only one man for the job.
The Daily Mail has reported that the club is already making the plans to bring in Carlo Ancelotti and may have already contacted the current PSG manager. Florentino Perez is dead set on bringing Ancelotti to the Santiago Bernabeu, and the feeling is obviously mutual.
It was reported less than 24 hours ago on Fox Sports that Carlo Ancelotti has actually requested to leave PSG in an attempt to make a move to Madrid. The manager has already made up his mind of where he wants to be next season, but will it actually happen?
Both the club and the manager are in agreement that Ancelotti should take over when Mourinho leaves. However, there is one little problem that could make a mess of the whole thing.
The Telegraph has reported that PSG president Nasser Al Khelaifi has told Ancelotti that he will not be allowed to leave the French club despite his wishes to do so.
In an interview with BeIn Sports quoted on the Telegraph Khelaifi had these words to say on the matter.
“Yes, we had discussions; he asked to depart for Real Madrid. I said it is not possible because he has a contract for one more year, so that is our decision.”
That is about as clear an answer as you can get in today’s footballing world. At this moment PSG will not be allowing Carlo Ancelotti to leave France.
Now it is certain that Real Madrid will need to look elsewhere for their Mourinho replacement. The club cannot afford to make a bad decision, nor can they wait one year for Ancelotti’s contract with PSG to end.
Will Carlo Ancelotti be Real Madrid's manager next season?
There has been no official statement on the matter from Real Madrid. But fans everywhere should expect there to be big rumors linking other managers to Madrid in the coming weeks.
Carlo Ancelotti could still find his way to the Santiago Bernabeu; nothing is impossible. But that looks very unlikely. Real Madrid have now been left in the cold and must work very quickly to replace Mourinho before his departure sends shockwaves.
Who should be the club’s top managerial target? What changes need to take place at the club in general? Leave your thoughts and comments below.
Tre’ Atkinson. Follow me on Twitter for more discussions on Real Madrid and La Liga.