Joachim Low has told ZDF TV he would be interested in joining Real Madrid when his time as Germany coach comes to an end but is unlikely to work in the Bundesliga.
Low, who has worked for the German FA since 2004 and is under contract until 2022, led Germany to the 2014 World Cup.
But following what he called "an overall bad year" in which the defending champions went out in the World Cup group stages and were relegated from UEFA Nations League Group A, Low said he had started looking to the future.
European Championships qualifying draw: Germany, Netherlands in Group C, easier draws for England, Spain
Netherlands and Germany were grouped together in qualification for the 2020 European Championship at Sunday's draw in Dublin.
Germany, who dropped into pot two for the draw after their dismal UEFA Nations League campaign, will also play Northern Ireland, Estonia and Belarus in Group C when qualification begins in March.
Holders Portugal will face Ukraine and Serbia in a tricky five-team Group B, while world champions France drew Iceland and Turkey in Group H.
Three-times champions Spain were drawn...