The Everton boss is being lined up for a second stint in the Spanish capital, with initial contact having been made five days ago
Carlo Ancelotti is in advanced talks with Real Madrid regarding a return to Santiago Bernabeu, Goal can confirm.
The Blancos are in the market for new head coach after seeing Zinedine Zidane walk away from the final year of his contract.
Various candidates have been linked with one of the most demanding roles in world football, but a man who knows all about those pressures is heading back for a second spell.