Ancelotti has a contract with Real Madrid until June 2026, and the 65-year-old is bidding to lead the capital giants to a treble this season, but there is uncertainty when it comes to his long-term future.
The Italian could allegedly leave Bernabeu this summer, and Bayer Leverkusen head coach Xabi Alonso is seen as the red-hot favourite to replace Ancelotti at the helm.
However, according to the Daily Mail, Iraola has been added to the shortlist, with the Spaniard's excellent work in the Premier League with Bournemouth not going unnoticed.
Iraola started his managerial career with AEK Larnaca in 2018 before taking charge of Mirandes, but he made his name with Rayo Vallecano, enjoying an impressive spell with the capital side between 2020 and 2023.
Real Madrid 'identify Iraola as possible Ancelotti replacement'
Leeds United were keen to appoint Iraola in February 2023, but he was not allowed to leave Rayo at that stage.
Bournemouth appointed the 42-year-old as their head coach in June 2023, though, and he led the Cherries to their best-ever Premier League season in 2023-24, picking up 48 points to finish 12th.
The Cherries are on course to comfortably beat that this season, already claiming 43 points from 25 matches, which has left them in fifth spot in the Premier League table and in a strong position to challenge for Champions League qualification.
Bournemouth have only lost once in all competitions since the end of November, and they are only one point behind fourth-placed Man City in the table, with Iraola's work being hugely praised.
Could Real Madrid face competition for Iraola?
Tottenham Hotspur are believed to be huge admirers of Iraola, with the North London club thought to view him as a potential replacement for Ange Postecoglou, should the head coach be relieved of his duties.
There is also currently speculation surrounding the future of Manchester United head coach Ruben Amorim, and it is likely that Iraola would be a candidate if the Red Devils decide to make another change.
Bournemouth, for obvious reasons, will be desperate to keep hold of Iraola, but the Cherries will know that their manager is in high demand, and it is difficult to see him staying on a long-term basis due to his incredible work at the Vitality Stadium.
Written by
Matt Law