According to reports, Carlo Ancelotti should never be counted out prematurely. He has repeatedly overcome difficult situations at Real Madrid, even when it seemed unlikely he would win major trophies. However, this season, not even a miracle might save him.

Following Real Madrid’s heavy defeat in London, his future almost entirely depends on the result of the Champions League return leg against Arsenal. The situation is extremely tough, but Real will undoubtedly give their all, and with their attacking prowess, they could score three goals.

However, the team’s poor performance and a weakened defense—due to Florentino Pérez’s decision not to sign new players despite multiple injuries—have created significant problems. Elimination from the Champions League and finishing second in La Liga would signal a cycle change at Real, with a new manager attempting to revive a struggling project.

A few months ago, the primary candidate to replace Ancelotti was Xabi Alonso. He could leave Bayer Leverkusen, is ready to sign with Real, and seems to have gained enough international coaching experience for a major leap. Xabi was considered due to his years at Real, his attacking style, and his strong locker-room management.

It seemed his summer arrival was imminent, but doubts have arisen at the Bernabéu—both due to his inconsistent season and the possibility that Real might need a major overhaul in coaching and transfers if this season ends disastrously.

In football circles, many agents have recently pointed out that Jürgen Klopp is gaining traction among Bernabéu executives. Those close to Florentino Pérez have suggested that Klopp might be the only one capable of resolving the tactical chaos of this season. Klopp would be an impactful choice, with more freedom and perhaps better equipped to handle the pressure of a club obsessed with winning at all costs.

Klopp was also on Real’s shortlist a few years ago, but Florentino Pérez ultimately did not agree. This time, the move won’t be easy either. Klopp enjoys stability at RB Leipzig, though his one-year sabbatical from coaching seems to be ending. Undoubtedly, an offer from Real could tempt him with a major challenge like managing Vinícius and Mbappé simultaneously—something Ancelotti has struggled with.

Klopp would be a bombshell, but Florentino is taking a big risk by choosing a charismatic coach. The Real president has always been more cautious with managerial appointments. However, there’s no doubt at Real that significant signings are needed, as the current squad is no longer delivering.