Solari has failed to impress Bernabeu chiefs since landing the role in November, when he stepped up from the B Team to succeed Julen Lopetegui.
The Argentine has been unable to turn around the fortunes of Los Blancos, however, with the side 12 points behind league leaders Barcelona.
The Catalans also dumped Real Madrid out of the Copa del Rey in Febraury, but Tuesday’s 4-1 home loss to Ajax in the Champions League was the final straw.
The outlet claims that Real Madrid white-collars were called into an emergency meeting at the stadium on Thursday and decided to relieve Solari of his duties, with the announcement expected imminently.
Sensationally, Mourinho, who was sacked by the club in 2013, is ready to be appointed as his successor.
Mourinho has been out of work since December, when he was given the axe by Manchester United after a torrid start to the 2018/19 season.
The divisive Portuguese has since ventured into punditry, appearing on beIN SPORTS, and is supposedly hosting his own TV show on Russia Today, running from March until June.
Real Madrid will sack Santiago Solari tonight and replace him with Jose Mourinho – reports in Spain
The Telegraph reported on Wednesday that Real Madrid are “almost 100 per cent” sure they can lure back the box-office coach, who recently told the paper what he is looking for in his next job.
“I want to work in a club that understands there is a structure in place,” he said. “I don’t want to work in a structure of no coincidence [unity] in the thinking.
“People sometimes say ‘this manager doesn’t like to work with a football director’; ‘this manager doesn’t like to work with chief scout’; ‘this manager doesn’t like to work with an owner’; ‘this manager doesn’t like to work with president’.
“During my career I have been working in every possible circumstance. The most successful situations are not because of the structure but because of the empathy in the structure.
Santiago Solari looked helpless as Real Madrid crashed out of the Champions League to Ajax
“People who work well together. People who share the same kind of ideas. This is the fundamental thing. You now have a generation of players who are not just players but the whole package. You have the player, the family, the agent, the entourage, the director of communication.
“You sometimes have the individual’s medical people and in an extreme situation you even have what they call their ‘personal fitness guys’. When you have a player you have all these distractions. And if there is no empathy in the structure of the club you get into so many contradictions that it is really, really difficult to work.”
“If it is a club without ambition I wouldn’t go. I refused [a lucrative offer] because I want high-level football and ambitions at the highest level. That is my second item [requirement].
“My first item is structural empathy. I want to work with people that I love. People I want to work with, that I am happy to work with, with whom I share the same ideas. I don’t want to be in a permanent contradiction [conflict] between what I think and the others think.”
Jose Mourinho was first unveiled as Real Madrid manager in 2010
Spanish football journalist Guillem Balague spoke earlier in the day about the possibility of Solari’s departure, but was not under the impression he would be sacked before the weekend, despite the inevitable eventuality.
“Solari is gone,” he told the Football Daily podcast. “He could even be gone at the weekend. They play Valladolid, if they lose against Valladolid he could get the sack.
“The problem is who you replace him with. You’ve wasted that bullet. This is somebody that they trusted could become, not a [Zinedine] Zidane, but certainly somebody from the club that can become manager of the first team. Well that’s gone now. Now what’s next?
“It’s what everybody’s focusing on, but you still have to realise that something has happened to the model of Real Madrid that is broken. They haven’t signed a Galactico since 2013/15, James Rodriguez.
“So what is it that you’re about? Well getting some of the best youngsters around. Fine, you can get Vinicius [Junior] for €40million, Rodrigo for €40m. You can get Marco Asensio, Ceballos etc. But you never will build a team that is a winning side like the era that’s just finished. You have to mix it, and I think they’ve forgotten that kind of balance.”
Jose Mourinho won three trophies in as many seasons at Real Madrid
Real Madrid have not recovered from losing Zinedine Zidane and Cristiano Ronaldo
Balague later acknowledged the breaking news from Spain on Twitter, posting: “In Spain it is being reported Solari will be sacked soon and be replaced Mourinho… Some say till the end of the season. Others even further… [facepalm emoji].
“Things don’t look great for Solari. I think he will be in charge at the weekend. What next? Nobody knows. Anything is possible. Including the return of Mourinho!”
Real Madrid have failed to recover from the exits of Zinedine Zidane and Cristiano Ronaldo in the summer – the figureheads of their four Champions League title triumphs in the last five seasons.
Jose Mourinho won one La Liga, one Copa del Rey and one Supercopa de España in his three seasons in charge at Real Madrid from 2010 to 2013.
Real Madrid have already had Jose Mourinho as their manager
It was then claimed late on Thursday night that Solari will remain in charge until after Sunday’s La Liga clash with Valladolid.
Barca – a Madrid-based newspaper sometimes seen as the closest mouthpiece to Real – report sources who claim “nothing can be ruled out at this time” regarding Mourinho.
However, the former Chelsea and Manchester United manager may not swoop in immediately.
The idea is to assess the situation, with Mourinho not guaranteed to be their first choice.
However, his relationship with president Florentino Perez strengthen’s Mourinho case to get the job.