In my opinion, there are two biggest candidates right now. I think one is Xabi and the other is Zidane. However, it is not time for change for Ancelotti, Real Madrid is still showing a successful team performance. It would be a big surprise and I would be very surprised if he leaves office, but to be honest, there is no change in sight at the moment.
A few days ago I read a tweet from Romano reporting, Ancelotti: “Agreement with Brazil? It's all about rumors, links… I feel very good at Real Madrid as things stand”.
reference:
https://twitter.com/FabrizioRomano/status/1713868748686315927Maybe it seems, Don Carlo doesn't want to discuss his move while he is still managing Real Madrid. So, his current focus is really on his squad. But if Don Carlo really coached the Brazilian national team, there are actually many names that we would be able to associate as potential successors to Ancelotti. referring to what you said, I don't think it's time for Xabi Alonso to handle a club that is so big. even though in reality, he really is a coach with great potential.
Regarding Zidane, rumors of Zidane's return to Real Madrid are widely discussed. referring to several newspaper sources who reported that Zinedine Zidane was said to have the best chance of replacing Carlo Ancelotti. As we all know, it is widely reported that Real Madrid management is looking for a new figure to replace Carlo Ancelotti who will leave at the end of the season. Don Carlo is reportedly going to continue his pursuit as coach of the Brazilian national team. Regarding the potential replacement, I have not received any reports regarding the news that Zidane is ready to return to training. However, the potential is always there, especially since Madrid is Zidane's home. Unfortunately, we can't confirm anything yet. after all, Don Carlo is still the head coach for Los Blancos. So, let's just enjoy this season before Ancelotti actually trains the Brazilian national team in 2024.
Only ancellotti and perez who knew about the truth. public can only rely on the news that being published by several legit sites. Even though if this true or not but im still feeling so happy to see him stay in the real madrid even longer.
Ancellotti has been always building the club from nothing to something when he was coaching the club. No doubt if he is always become a very successful coach at this moment.
I hope that ancellotti will stay even longer but we must also consider the confirmation beting made by brazil. The country said that if ancellotti already agreed to be a new appointment for the club to face 2026 world cup.
Everything is still unclear at this moment. We can only wait and see what's gonna happen with him after his contract will end with real madrid. Im not sure if ancellotti is willing to stay.