Chelsea boss Jose Mourinho has admitted it would be an 'honour' to manage Real Madrid.

The Portuguese tactician's future at Chelsea has been the subject of constant speculation in the last few months amid reports of an alleged rift with owner Roman Abramovich.

Mourinho, who insists he will not walk out on Chelsea, revealed over the weekend he clashed with Abramovich over the club's refusal to enter the transfer market in January.

The former Porto chief has been strongly linked with a move to Real Madrid in the summer with the Spanish giants expected to part with Fabio Capello after a disappointing campaign.

Capello has failed to win over the Real faithful this season and his job is under increasing pressure following their UEFA Champions League exit to Bayern Munich.

Mourinho, who was in Spain to take in Champions League opponents Valencia's clash with Osasuna, told Spanish television he would be interested in a switch to El Santiago Bernabeu, but ruled out any move next season.