Alonso has a contract with Leverkusen until 2026 and has been heavily tipped to take over the head coach role at Madrid from Carlo Ancelotti, who also has one year left on his contract.
The Italian manager has reiterated his desire to continue at the Santiago Bernabeu beyond his current deal, but his future at the club could be in jeopardy should he fail to lead Los Blancos to a La Liga or Champions League title at the end of the season.
Meanwhile, Alonso's statements are now going to keep Madrid in limbo, as the club reportedly met the Spanish coach's representatives earlier in the season to discuss his potential arrival ahead of the 2025-26 season.