The former Chelsea manager says that a move back to England once he leaves the Bernabeu "is clear in his mind", and refuses to rule out any club as his next destination
The 49-year-old left Chelsea in September 2007 following an alleged falling-out with Blues owner Roman Abramovich, but has long been tipped to return to England once his spell with the Blancos runs its course.
"When I speak about it in Spain, they turn my words immediately, but I cannot deny what is clear in my mind," he told Sky Sports.
"After Real Madrid, England. That's for sure, but I keep saying on the same thing, I know clearly it's where I want to be."
The former Porto and Inter boss also made it clear he would be open to managing any top-flight outfit, despite his strong ties to Stamford Bridge.
He added: "Everyone [is an option]. I am blue. I am a London blue but I am professional."