The Italian, who won the Champions League during an earlier stint with Real, has led the Spaniards to two more European titles and two league titles since returning in 2021.
It’s reckoned he has now made his way onto a shortlist being drawn up by Real Madrid chiefs of potential replacements for Los Blancos gaffer Ancelotti.
Former player and Bayer Leverkusen title winner Xabi Alonso is thought to be favourite, having rejected Liverpool last summer in the reported hope of eventually moving to Real.
Ancelotti is hoping for another double this term as Real sit joint-top of LaLiga with Barcelona, while also holding the advantage over Man City in tonight’s Champions League play-off.
But it’s reckoned that Iraola has now worked his way onto Real’s shortlist, having impressed club chiefs with his incredible job at Bournemouth.