Real Madrid president Florentino Perez is reportedly planning to replace current manager Carlo Ancelotti with Joachim Low at the end of the 2021-22 campaign.

Ancelotti has led Los Blancos into the semi-finals of the Champions League, while the team are in a strong position to win La Liga, sitting 12 points clear of second-placed Barcelona at the summit.

There has been speculation surrounding the Italian's future in recent weeks, though, with Real Madrid thought to be planning to change their head coach ahead of next season.

According to El Nacional, Perez was concerned by Ancelotti's approach to the recent matches with Paris Saint-Germain, Barcelona and Chelsea, with the three matches weakening his position at Bernabeu.

The report claims that Low is Real Madrid's leading managerial target, with the 62-year-old currently available, having not taken up a new position since leaving Germany last year.

The German has not managed at club level since 2004, when he was in charge of Austria Vienna, acting as assistant head coach for his national team between 2004 and 2006 before taking on the managerial role for 15 years between 2006 and 2021.

Low led DFB-Elf to success in the 2014 World Cup and 2017 Confederations Cup, in addition to claiming third at the 2010 World Cup and the runners-up spot at the 2008 European Championships.