By all appearances, Bayer Leverkusen are preparing for the 2025/26 season with Xabi Alonso at the helm. Behind the scenes, however, the club is bracing for the very real possibility that he may soon leave. And not just for any job — but for Real Madrid.
On Monday, Leverkusen CEO Fernando Carro confirmed what had long been speculated: Alonso, the 43-year-old manager who led the club to its first-ever Bundesliga title last season, has a “gentleman’s agreement” that allows him to depart if approached by one of his former clubs. Real Madrid, where Alonso won La Liga and the Champions League as a player, is top of that list.
A delicate agreement, a ticking clock
“He has no exit clause,” Carro said during the Laureus Awards in Madrid, “but we have a gentleman’s agreement. If a team he has played for comes, we will sit down and talk, and we won’t put obstacles in his way.”
It is an unusually candid admission from a top executive, and it all but confirms that Real Madrid, should they part ways with Carlo Ancelotti, would face no resistance in courting Alonso. Ancelotti is widely expected to leave to take over the Brazil national team this summer.
Carro carefully noted that nothing had been finalized — at least not yet. “There is nothing now,” he said, “but in the next three or four weeks we will know if there is any tectonic change in the club.”
The timing is crucial. Real Madrid hope to have a new coach in place before the expanded FIFA Club World Cup kicks off in the United States on June 14. Whether Alonso would immediately take charge for that tournament remains uncertain, with internal candidates like Raúl and Santiago Solari waiting in the wings.
In the meantime, Carro insists Leverkusen are not standing still. “We’re not naive,” he said. “The position of the coach is very important, and we’re preparing next season with him. He’s fully involved and integrated into the planning.”
The respect between club and coach is mutual. Alonso has previously turned down advances, including from Liverpool, choosing to remain loyal to the project he began in October 2022. In just over two seasons, he has lifted the team from second-bottom in the Bundesliga to national champions. This year, they remain competitive, currently second in the league and chasing more silverware.
That success has only heightened Madrid’s interest. Alonso ticks every box for a club that prizes history, identity, and winning pedigree.
Carro knows it too. “We’re very calm because we have an excellent relationship,” he said. “Xabi’s willingness is important; he respects us, and we respect him.”
Still, time is short. As the Madrid job inches closer to becoming vacant, so does Alonso’s possible return to the Santiago Bernabéu, not as a midfield general this time, but as its next architect on the touchline.
Which of his former players will follow his lead?
