Real Madrid must pay up! Los Blancos learn asking price for Xabi Alonso as they aim to source replacement for Carlo Ancelotti after Champions League humiliation

Alonso is the hot favourite to replace Carlo Ancelotti as the manager of Real Madrid, especially following the Spanish giants' humiliating 5-1 quarter-final defeat to Arsenal in the Champions League. However, BILD reports (h/t Football Espana) that Los Blancos will have to pay a double-digit figure to Bayer Leverkusen in order to sign Alonso before his current deal, valid until June 2026, expires.

Alonso is believed to have an agreement with Leverkusen CEO Fernando Cerro to allow him to leave for Real Madrid, but the German club will demand at least €10 million as fees for his release. Los Merengues are likely to negotiate the cost down, given their historical reluctance to pay large fees for managers. The timing, with the Club World Cup approaching, adds urgency to the decision. Indeed, there is just a 24-day gap between Madrid's final LaLiga fixture and the start of the Club World Cup. Not just that, but a host of Madrid players are expected to be on national duty in between, giving Alonso little to no time to work with the squad.

Speculation surrounding a potential managerial change at Madrid has intensified in recent days. According to reports from Cadena SER, an intermediary from the Confederation of Brazilian Football (CBF) was spotted in the stands of the Santiago Bernabeu on Wednesday, fueling rumours of a possible managerial shake-up. Additional reports have suggested that former Liverpool manager Jurgen Klopp could be enticed by the prospect of returning to management with the 15-time European winners, should the opportunity arise.

Leverkusen's sporting director hinted last month that Alonso could remain at the BayArena for another season. "No, he's staying, that's it. He told me that there was nothing. He has a contract with us," said Rofles.

Alonso could lead Die Werkself to a second consecutive Bundesliga title, although with five games to go and with Leverkusen trailing Bayern Munich by six points, only a miracle could see them defend the league. They will take on St. Pauli in their upcoming clash, which will be played on Sunday, April 20.