Illarramendi is likely to be deemed surplus to requirements, by the next Real Madrid manager.
Following his switch from Real Sociedad to Real Madrid in the summer of 2013, for a whopping price-tag of €38 million, Asier Illarramendi struggled to force his way into the regular midfield plans of manager Carlo Ancelotti.
With the departure of the Italian coach, more uncertainty surrounds the talented Basque player, amidst plenty of speculation that the 25-year-old could also be leaving the Bernabeu this summer.
There have been mixed signals from the player, as to where his future lies. In mid-April, Spanish sports outlet Marca indicated that Illarramendi would be open to an offer from Liverpool, whilst Arsenal also continue to monitor the situation.
Meanwhile and just one day before the sacking of Ancelotti, he seemed to close the door on leaving Real Madrid, in comments to AS, insisting he's "happy" at Real Madrid and intends on seeing out the remaining two years of his contract.
Ultimately though, Illarramendi may have little choice about remaining at his current club, which could depend entirely on who is appointed as the new manager at Real Madrid, along with expected blockbuster moves which are likely to seal his fate.
After 15 La Liga starts during his first season, Illarramendi became somewhat of a forgotten man, on the fringe of Ancelotti's considerations during the 2014-15 campaign, making just 10 league starts.
In what could prove to be a long summer for the player, there are suggestions Real Madrid could be prepared to cut their losses, and accept a bid of as little as £8.5 million for Illarramendi.
Evidently, both Liverpool and Arsenal will be ready to pounce at such a bargain price, whilst an option to remain in La Liga will present itself, with an expected bid from Basque giants, Athletic Club Bilbao.
However, the clearest indications of where Illarramendi stands at Real Madrid, are only likely to present themselves, once the new manager declares whether or not, he will feature in plans for next season.
For now, the player and the clubs interested in his signature, will have to remain patient.