Mauricio Pochettino is keen to return to Tottenham as manager, but only if two conditions are met by Daniel Levy.
football.london understands that talks have taken place between Spurs and Pochettino, and the Argentine boss is interested in returning to North London.
However, there is interest elsewhere in the former Spurs boss, with Real Madrid now considering whether the 49-year-old would make an ideal replacement for Zinedine Zidane, who left the Santiago Bernabeu this week.
According to AS, Pochettino's relationship with Paris Saint-Germain sporting director Leonardo has weakened, and Pochettino is angry that he does not have a greater say in sporting decisions.
As such, Spurs and Real Madrid both believe that Pochettino could be tempted to leave Paris this summer, despite his contract running until 2022.
Pochettino would apparently have two big conditions that would have to be met for him to return to Spurs.
The first is a long-term contract to match a long-term project. The boss would apparently need a deal lasting at least four years, and would want an "armoured link" in the contract to protect against being sacked in the middle of the season. Whether that is feasible is another matter.
The second condition would be for Pochettino to enjoy "full powers" over sporting decisions - something he does not currently have at PSG.
Things did not end well for Pochettino at Spurs, and the manager believes he has "unfinished business" at the club.
Whether Daniel Levy will be able to put everything together remains to be seen.