Real Madrid will reportedly try to convince Jose Mourinho to return to the Bernabeu if they are knocked out of the Champions League next week.
The Portuguese coach, who was sacked by Madrid in 2013 following a three-year spell, has been out of work since losing his job at Chelsea in December.
The 53-year-old has been heavily linked with Manchester United amid reports that current boss Louis van Gaal could get sacked at the end of the season.
However, according to The Mirror, Real president Florentino Perez is considering making a move for Mourinho because his side's Champions League hopes are in doubt given that they are 2-0 down to Wolfsburg in their quarter-final tie.
The report adds that Mourinho rejected the chance to replace Rafael Benitez in January because he was confident of landing the United job, but he is believed to be less certain amid rumours that the Red Devils may hold on to Van Gaal should he guide the club into the top four before the end of the season.
Zinedine Zidane is currently in charge of Los Blancos, who sit third in La Liga, seven points behind leaders Barcelona.
