Real Madrid have identified two surprise alternatives to Jose Mourinho in the event that negotiations over the Portuguese manager's appointment break down, according to Spanish journalist Raul Varela.
Mourinho has been widely expected to take over from Alvaro Arbeloa at the Bernabeu and, according to BBC Sport, final talks over a second spell in charge are now under way.
The Benfica manager has publicly denied any contact with president Florentino Perez, but sources suggest discussions have been ongoing for several weeks. Mourinho is understood to have submitted a list of ten key demands, including the right to bring his own backroom staff.
Despite the strong indications pointing towards Mourinho's appointment, no agreement has yet been signed — and Real Madrid are not leaving anything to chance.
Club legend Raul considered
The first back-up option is club legend Raul, who spent six years managing Real Madrid's reserve side Castilla between 2019 and 2025. The former striker, who scored over 300 goals for the club, left last summer after Real Madrid opted for Xabi Alonso over him as their next head coach.
During his time at Castilla, the side twice narrowly missed out on promotion from the third tier. When he departed, the club's statement was effusive in its praise.
"It has been a great honour to have a legend of our history and world football as coach and mentor for our academy," the statement read. "Raul embodies all the values of Real Madrid. He passed these values on as a coach too. He will remain in the hearts of all fans forever, and Real Madrid will always be his home."
American coach an outside option
The second alternative under consideration is Pellegrino Matarazzo, the American manager who took charge of Real Sociedad last year in a remarkable rise through the European football pyramid.
The 48-year-old led the Basque club to Copa del Rey glory earlier this year, becoming the first American head coach to win a major trophy in one of Europe's top five leagues. His side currently sit eighth in La Liga and are on course for Conference League football, with Europa League qualification still theoretically possible.
According to Varela, Matarazzo is viewed as an "extremely modern" choice by one of Perez's most trusted advisers and is held in high regard behind the scenes, though his appointment at this stage would be considered highly unlikely.
Raul, by contrast, is described as the candidate with the right profile to meet the squad's current needs. Should talks with Mourinho proceed smoothly, both contingency plans will remain unused. Real Madrid, however, clearly have their options covered.