Chelsea boss Carlo Ancelotti is on Real Madrid's shortlist to replace Jose Mourinho.
Sport says Real president Florentino Perez is having his No2 Jorge Valdano sound out potential coaching candidates over concerns Mourinho will leave Madrid at the end of the season.
Ancelotti is top of both Valdano and Perez's shortlist.
Perez attempted to sign Ancelotti during his previous reign as president and remains a huge fan of the Italian.
Ancelotti insists he's happy at Chelsea, but their recent form slump did cast major doubt over his future at Stamford Bridge and his relationship with owner Roman Abramovich.
Along with Chelsea, AS Roma will also be interested in Ancelotti as they prepare to change hands. The new owners are expected to make €100 million available to the Roma coach next season.
