For now, Real Madrid is still proceeding cautiously when it comes to making a decision regarding the future of its bench for next season. However, if they do decide to part ways with Carlo Ancelotti a year before the end of his current contract (2026), Real Madrid has already been informed of the fee they would need to pay to secure the services of Xabi Alonso.

Bayer Leverkusen won’t let Xabi Alonso go for free

At the 2025 Laureus Awards, Fernando Carro (CEO of Bayer Leverkusen) and Simon Rolfes (Bayer Leverkusen’s Sporting Director) provided an important update on Xabi Alonso’s future. Specifically, they revealed the existence of a “gentleman’s agreement” that would allow Xabi Alonso to leave if he wished to coach one of the clubs he played for during his footballing career — including Real Sociedad, Liverpool, Bayern Munich, and Real Madrid.

“We have a gentleman’s agreement that if a team he played for comes calling, we would sit down and talk, and wouldn’t stand in his way,” said Fernando Carro. However, he also stressed the need for Bayer Leverkusen to begin planning for next season. So, while they won’t block his departure, he warned Real Madrid by stating, “The decision has to be made in the next three or four weeks. We can’t wait until the end of the season. We’ll know before the season is over.”

This is the price Real Madrid would have to pay for Xabi Alonso

Bayer Leverkusen’s main goal is to keep Xabi Alonso on the bench at the BayArena. However, even if they don’t oppose his exit, that doesn’t mean they won’t demand financial compensation for his services. According to COPE, Real Madrid has already received confirmation of the financial terms of the deal. If they proceed, they would need to pay the eight-million-euro release clause included in his contract.

Undoubtedly, this is an amount that Real Madrid can afford to pay to bring in Xabi Alonso — although it’s not a strategy typically favored by the club’s decision-makers at the Santiago Bernabéu when hiring a coach. Still, unless an agreement is reached, Real Madrid would also have to consider that firing Carlo Ancelotti means paying him the remainder of his contract, which could range between 20 and 24 million euros (gross).