Real Madrid believe Xabi Alonso turned down approaches from Liverpool and Bayern Munich to wait to manage them when Carlo Ancelotti leaves, reports say.
Alonso revealed last month that he had ruled himself out of contention for the soon-to-be vacant hot seat at Anfield due to his unfinished business at Bayer Leverkusen.
A former Reds midfielder, Alonso had been the favourite to replace Jurgen Klopp, though figures at the club were understood to be sceptical over his availability.
Liverpool have now turned their attention to Sporting Lisbon's in-demand boss Ruben Amorim and Brighton's Roberto De Zerbi, as reported by Mail Sport.
However, Real Madrid have seemingly not given up the fight with Relevo claiming that Alonso's confirmation he would stay in Germany this summer was seen as an indication he was in fact waiting to take on the job at the LaLiga giants.
Real Madrid believe Xabi Alonso turned down offers to wait to coach them, reports claim
Liverpool identified Alonso as one of their first-choice targets to succeed Jurgen Klopp
Indeed, it is said that Madrid's squad have also been openly discussing the prospect.
According to the same outlet, a large part of Ancelotti's squad believes Alonso wants to coach them once his time at Leverkusen comes to an end, and that this reason alone explains his surprise decision to reject other similarly enticing offers.
The feeling inside their camp is that Ancelotti will continue until he makes way for Alonso, who is viewed by Madrid's hierarchy as the best possible replacement.
Alonso is tied down at Leverkusen until 2026, having penned an extension last year. Relevo say that if he wanted to leave, though, Leverkusen would not object.
The 42-year-old is thought to have built a strong understanding with Leverkusen's board and this mutual respect will seemingly allow him to dictate his own future. His bosses are also said to be pleased he has decided to stay and continue his project.
Alonso has been tipped to replace Carlo Ancelotti after his superb work at Bayer Leverkusen
Madrid's squad are said to be openly discussing the prospect of Alonso coaching them
During his trophy-laden playing stint at the Bernabeu between 2009 and 2014, Alonso played alongside the likes of Dani Carvajal, Nacho and Luka Modric.
And although he has opted to stay at Leverkusen for the time being, it has not been ruled out that he will return to Spain to coach several of his former team-mates.
Justifying his decision to turn down offers, Alonso said: 'I am convinced it is the right decision, I am happy. I wanted to reflect in the international break.
'The players gave me so many reasons to keep believing in them - their commitment, their desire, their hunger. My job isn't over here.'
Leverkusen are top of the Bundesliga and 16 points clear of Bayern Munich. They also remain in contention in both the DFB-Pokal and the Europa League.