Mourinho left Real Madrid 13 years ago as one of the most successful manager's in the club's history and his win rate of 72% has not been matched since his departure.
Los Blancos have been through a slew of high-profile leaders in that time, including the likes of Zinedine Zidane, Carlo Ancelotti and Xabi Alonso but none have been able to match the highs of the Mourinho era.
The Portuguese boss is currently contracted to Benfica and helped them to third place finish in the 2025-26 Primeira Liga season.
Mourinho has repeatedly side-stepped questions about a potential return to Real Madrid in recent weeks but has finally admitted it could be on the cards.
"My future should be decided this week," he said at a press conference.
"I need time. I need space. I need time to make my decision. This week I think will be very important.
"I don't have a proposal from Real Madrid. But to hide, to say there is nothing, I cannot do that. There is something. But not with me directly."
Despite leaving the club the better part of a decade and a half ago, he revealed he has retained close ties with Real Madrid president Florentino Perez.
"We are close for 13 years, nut that doesn't mean I've been in the club for the last 13 years or that I am going to be. We were always close and that doesn't mean anything I believe," he said.
He has an exit clause in his Benfica contract that would allow him to leave for ã2.6m, which would not be seen as much of an obstacle for a club of Real Madrid's stature.
He has other options on the table too, having been offered a new contract by Benfica and he also been approach to take over the Portugal national team after the 2026 FIFA World Cup.