Liverpool and Bayern Munich are the two teams he has been linked to the most because of his past achievements as a player in those clubs. And seeing how in need of a new coach they are, he could consider them and join any of them after leaving Bayern Leverkusen.
Real Madrid have a great squad line up now and any coach that gets to manage this squad well will win more big m records to their names and their achievements will be much in a short time. The repetition of the Champions Legaue Trophy three times in a row can be replicated by Real Madrid again with this kind of squad they’ve put together.
But so far, no official statement has been issued by Alonso. on the other hand, previously the CEO of Leverkusen believed that Xabi Alonso would stay at BayArena. although many newspapers are linking the Leverkusen coach's departure next summer, either joining Bayern or Liverpool. after all, both teams are both very interested in Xabi Alonso's services to replace their coach next season. We'll see whether Xabi will leave or stay at Leverkusen.
It is difficult to accept the news about the departure of Xabi Alonso, who will not be leaving Leverkusen in the next season, while Alonso is in a very enthusiastic state to pick up his success in contributing to Leverkusen winning titles in the Bundesliga and UEL.
I can't give any guarantees about the truth of this news, but I'm willing to bet that Xabi Alonso will stay at Leverkusen next season.