Carlo Ancelotti’s future at Real Madrid is hanging in the balance, with sources confirming that he is scheduled to meet with club president Florentino Pérez in the coming days to discuss a potential exit. Despite having a contract that runs through 2026, Ancelotti’s position has come under intense scrutiny following a series of disappointing results in major competitions.

Real Madrid’s recent struggles have heightened tensions at the club. A painful 3-2 extra-time defeat to Barcelona in the Copa del Rey final and a 5-1 aggregate loss to Arsenal in the Champions League quarterfinals have cast serious doubts over Ancelotti’s continued leadership. Although Los Blancos remain mathematically in the La Liga title race, trailing Barcelona by four points with five matches remaining, the prospect of a trophyless season looms large.

Publicly, Ancelotti has maintained a positive front, stating he feels “happy and energized” despite the mounting pressure. However, external interest in his services is strong. The Brazilian Football Confederation (CBF) is reportedly keen to appoint him as their new head coach, and negotiations between Ancelotti and Brazilian officials are said to be progressing steadily. A deal could be finalized soon if Ancelotti and Madrid decide to part ways.

Real Madrid, meanwhile, are already weighing their options for life after Ancelotti. Xabi Alonso, the club’s former midfield maestro and current Bayer Leverkusen manager, has emerged as the leading candidate. Alonso, enjoying a stellar season in Germany, reportedly has a release clause allowing him to leave Leverkusen for one of his former clubs, potentially easing a move back to the Spanish capital.

The discussions between Ancelotti and Pérez will be pivotal for Real Madrid’s immediate future. A decision will likely hinge not only on the team's final results this season but also on the strategic vision Pérez holds for the club moving forward. As uncertainty swirls, Real Madrid fans await news that could signal a new era on the Santiago Bernabéu touchline.