Tottenham manager Mauricio Pochettino has refused to rule himself out of taking over at Real Madrid.
The Spurs boss has been linked with increasing frequency with a potential move to the reigning European Champions as their fortunes continue to head on a downward spiral.
Los Blancos currently sit in fourth place in La Liga, and finished second behind Tottenham in their Champions League group, leaving them with a tough tie against PSG in the next round.
The pressure on Zidane escalated further this week with Real Madrid suffering a shock defeat in the Copa del Rey against Leganes at the Bernabeu.
Despite winning two Champions League titles, the French legend now faces an uncertain future in the Spanish capital, with Tottenham boss Pochettino one of the front runners to replace him.
Speaking to the media, the Argentine refused to rule out a one day taking the hot seat at the Bernabeu:
“I am so clear.
I am never going to be manager of Barcelona or Arsenal because I am so identified with Tottenham and Espanyol. I grew up in Newell’s Old Boys and will never manage Rosario Central.
“That is my decision because I prefer to work on my farm in Argentina than in some places. But my commitment is massive in this club. I am working like I am going to be here forever.
“But in the end, it is like the players, you never know what is going to happen in football. It is a lot of rumours about this, about that.
“Tomorrow Daniel Levy could have a bad night and say, ‘Oh I am going to sack Mauricio’. And then I look stupid saying I am not going to work in one place or another or another.
“You never know in football. That is the problem. It is a very unstable situation.”