Bayer Leverkusen coach Xabi Alonso on Friday refused to shut down speculation he could be set for a move to Real Madrid in the summer.
Madrid's heavy Champions League quarter-final defeat by Arsenal could bring an end to Carlo Ancelotti's second stint at the club, with Alonso believed to be the preferred replacement.
Alonso spent five seasons at Madrid during his playing career, winning the Champions League and LaLiga.
After taking over as Leverkusen boss in October 2022, his first top-flight job, Alonso led the club to an unbeaten league and cup double last season, the first time they had ever won the Bundesliga.
Speaking ahead of the trip to St Pauli on Sunday, Alonso declined to rule out a summer move to the Spanish giants.
"It's not a good time to discuss the future. We're at a very important moment in the season," Alonso said.
Leverkusen are six points behind league leaders Bayern Munich with five games remaining.
The 43-year-old said he "did not want to talk about speculation and rumours," saying he understands "that this is happening, but what's more important to me is what's happening right now."
Last Saturday, club CEO Fernando Carro told reporters he believed Alonso would be in the Leverkusen dugout next season.
"He feels comfortable here. We're also planning next season with him: preseason, matches, squad," Carro said.
Alonso was the subject of similar speculation in March last year amid links to Madrid along with his other former clubs Liverpool and Bayern, but called a press conference to shut down suggestions with his side on course for a maiden title.
This year, Leverkusen are still putting together one of the better seasons in the club's history, but look set to finish the campaign empty handed.
With the Bundesliga title slipping away, Leverkusen were eliminated in the last 16 of the Champions League by Bayern, and were knocked out of the German Cup in the semi-finals by third-tier Arminia Bielefeld.