Mourinho is still under contract with Benfica until 2027, but Real Madrid will reportedly activate his €3M release clause to bring him back to the club. This move would need to happen before the summer transfer window.

Some speculate that Pérez may be leaving the club in the near future, as he turns 79 years old in March. Bringing in Mourinho before he steps down could be a strategic move to end his tenure on a high note.

Real Madrid has not won a trophy in two consecutive seasons, and a new manager may be necessary to turn the team's fortunes around.