Real Madrid have considered Jurgen Klopp as an option for a long time even after he had previously rejected an offer from the club to replace Carlo Ancelotti.
According to reports from Spanish newspaper Marca, the club offered the German something akin to a "blank cheque", but Klopp chose a project away from coaching as a sports consultant within the Red Bull group.
Klopp has made it clear on more than one occasion that he has no plans to return as manager, despite the rumours.
Another report from El Chiringuito has explained that while Klopp is well-liked by everyone at the club, he is no longer in consideration for the job and is not an option this summer.
Real Madrid are expected to need a replacement for Alvaro Arbeloa, but on Thursday evening, reports emerged that the 43-year-old still hopes to keep his job next year.
"El Chiringuito" also assures that no decision has been made about Arbeloa's future and that he will meet with President Florentino Perez in the coming days.
Other names linked to the Real Madrid bench are: Luis Enrique, Antonio Conte, Max Allegri, Jose Mourinho and Didier Deschamps.