Bayer Leverkusen CEO Fernando Carro has said the club will not standing in Xabi Alonso's way should one of his former clubs request his services.
Alonso was linked with moves to Liverpool and Real Madrid - two clubs the former midfielder represented during his playing career - last summer, but opted to remain with Bayer Leverkusen on the back of their unbeaten domestic campaign that saw them complete a league and cup double.
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Liverpool are no longer in the market for a new manager, but is is expected that Real Madrid will part ways with Carlo Ancelotti before the end of the season, with Alonso and Jurgen Klopp thought to be the frontrunners to take over.
While Leverkusen are hoping to keep the Spaniard, the club have acknowledged Alonso may take over at Real Madrid, though they want to know who'll lead the club before the end of the season.
Carro said: "In a few weeks, we'll know if there's a coaching change at our clubs, but the fact is that we're a very professional club and we have to be prepared for anything.
"From the moment we signed Xabi, we knew he was going to be a great coach, and from the moment you sign one, you have to prepare others. His signing wasn't just a one-off. First, we signed him for a year and a half until 2024, and then until 2026.
"By signing him until 2026, we had confidence he'd stay. We can sleep peacefully, have a good breakfast, and be prepared for any eventuality. We have a gentleman's agreement, and if a team he's played for comes along, we can sit down.
"We've been working together for almost three years, and we're aware that in football, changes can occur at a club that affects others.
"We're not naive, but the truth is that the coach is important, and that's why we're preparing next season's team with him.
"He's fully involved and integrated into the preparations. If, in the end, there's interest from another club and he's interested, we have a relationship that would have to be discussed. It's not our wish, but we're clear that the decision has to be made within three or four weeks; we can't wait until the end of the season.
"I would like Real Madrid to win everything so there wouldn't be these discussions."