Former Liverpool manager Rafael Benitez is the heavy favourite to be appointed the next manager of Real Madrid.
Club president Florentino Perez admitted on Monday night that he 'didn't know' what former manager Carlo Ancelotti - who had the backing of the players and the fans - had done to deserve the sack.
Ancelotti led the club to their 10th Champions League win and the Copa Del Rey last season, but went trophyless this year.
Benitez, currently in charge at Serie A side Napoli, is now odds-on to get the job, with some bookies offering prices as low as 1/8.
Former Borussia Dortmund boss Jurgen Klopp and Real Madrid B team coach Zinedine Zidane have also been linked to the post but Benitez is way out in front.
Benitez, 55, is from Madrid and spent seven years playing for Real Madrid's B team in the 1970s, racking up almost 300 appearances.
After retiring from playing at 26, he became a coach in the club's youth teams, rising through the ranks before eventually becoming manager of the B team for two years between 1993 and 1995.
In his two seasons at Napoli he has led the club to a top four finish in both seasons and won the Coppa Italia in his first year, but lost the semi-final of the Europa League to unfancied Dnipro earlier this month.
He has won two Spanish titles and the Uefa Cup with Valencia, the Champions League and FA Cup with Liverpool and the Europa League with Chelsea.
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