Next Real Madrid manager odds: Jose Mourinho and Raul in frame to replace Santiago Solari after Ajax loss

Solari's job hangs in the balance after Real Madrid crashed out of the Champions League to Ajax

Holders Real Madrid crashed out of the Champions League as Ajax produced a stunning 4-1 victory in the Santiago Bernabeu to reach the quarter-finals and leave Santiago Solari’s job hanging in the balance.

Real took a 2-1 lead into the game and yet started slowly, with Ajax racing into an early lead. First Hakim Ziyech opened the scoring, before Dusan Tadic set up David Neres for a second in the 18th minute.

Ajax looked to have put the tie to bed when Tadic then scored a sensational third, only for substitute Marco Asensio to pull one back for the defending champions.

Yet any hope Real Madrid had of salvaging the tie was extinguished when Lasse Schone curled an angled free-kick over the head of Thibaut Courtois on 72 minutes.

The late goal added insult to injury on a miserable night for Solari, who will face plenty of awkward questions after a disastrous few days for the club. Here are the leading contenders to replace him in the Real Madrid dugout.

Check the gallery above to see the contenders to replace Solari.

Who do you think should be given the top job at the Santiago Bernabeu? Let us know in the comments below.