According to reports, Real Madrid has not yet made a final decision about Ancelotti’s future, while Bayer Leverkusen fears the departure of their beloved coach. However, the final decision will be in Alonso’s hands; his moment has arrived.

Ancelotti’s future depends on Real’s performance in La Liga and the Copa del Rey. In Real’s recent history, almost no coach has survived a trophy-less season; not Mourinho, not Pellegrini, and not even Ancelotti himself in 2015. But if he can snatch the titles from Barcelona and secure two trophies, his chances of staying will increase, and he might even remain until the Club World Cup. Otherwise, a heavy defeat, like the 3-0 loss to Arsenal in the Champions League, could pave the way for a coaching change and bring Xabi Alonso into the spotlight.

Alonso has a contract with Leverkusen until 2026. Simon Rolfes, Leverkusen’s sporting director, recently emphasized: “He is staying, he has a contract, and we are planning for next season.” But Alonso’s ambiguous statements about his future (last year there was a decision to stay, now there isn’t) have raised concerns at Leverkusen.

He has become a legend at this club; the one who brought them the Bundesliga, the DFB-Pokal, and the Supercup, taking them to the pinnacle of European football. However, there is an implicit agreement between Alonso and Leverkusen: If a big club like Real makes an offer, Leverkusen will not stand in his way, provided they receive a fee of around €10 million, which Real will likely try to reduce.

The final decision, however, rests with Alonso himself. Last summer, he rejected offers from Liverpool and Bayern Munich and stayed at Leverkusen, but turning down Real Madrid will be much more difficult for him.

Sources close to him say Alonso is very eager to sit on the Bernabéu bench, but for now, he is calmly—though tensely—waiting for Ancelotti’s situation to clarify. He doesn’t want to create unnecessary drama at Leverkusen, but he also can’t hide his interest in Real.

Fernando Carro, Leverkusen’s CEO, said after Real’s defeat to Arsenal: “Honestly, if Real had won decisively, I would have been happier. A 3-0 defeat fuels rumors, and that’s understandable.” He emphasized that they have a good relationship with Alonso but also reminded everyone of his contract and happiness at Leverkusen. However, rumors have intensified after the second leg.

Alonso may have only five more games with Leverkusen. Qualification for next season’s Champions League is certain, and the Bundesliga is almost lost (6 points behind Bayern with 5 games left). He continues to focus on his work, but he knows that if Ancelotti leaves, he is Real’s top choice. Meanwhile, Jürgen Klopp is also being considered, but Alonso, due to his playing history at Real and success at Leverkusen, is at the top of the list. The moment of decision is near, and everyone is waiting to see if Alonso will take this big step or not.