With the Blancos having suddenly found themselves without a manager following the shock departure of Frenchman Zidane, various candidates have been touted as possible appointments.
"So maybe Zidane probably saw it all flaring up and thought this was a good time to get out, because there are some things that need sorting out at Madrid", said Toshack.
The former midfielder had to contend with speculation relating to his future at the club for most of the season as a result of their often underwhelming form.
Low told a Germany press conference: "I can completely rule it out".
"This is a attractive moment as we have just won a third straight Champions League and I have now reflected and made this decision".
Pochettino signed a new, improved contract extension until 2023 last week and Spanish sports newspaper AS reported Friday that it does not contain any written agreement allowing him to leave if Real make an approach.
The 68-year-old Frenchman has already expressed his desire to continue his managerial career after ending his 22-year spell at Arsenal.
Zinedine Zidane abruptly resigns as Real Madrid manager
Many feel Cristiano Ronaldo's decision to plunge his own future into doubt has played a role in Zidane's departure. Zinedine Zidane has quit as Real Madrid manager days after he won his third consecutive Champions League title.
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I would have liked to convince him, but I know how he is, so the only thing I can do is offer my respect and acknowledgement, and tell him he will always be welcome here at his home.
Arsene Wenger has revealed he turned down Real Madrid on multiple occasions and says he wants to be "tested" in his next role. I'm not very gifted to enjoy life and lie on the beach.
Madrid right-back Dani Carvajal added: "I just want to thank you for these two-and-a-half years as our coach, you've been an incredible professional, as have your staff members". For me and for everybody, I think the moment to change has arrived.
"I had an injury five, six weeks into the season but I've been fit ever since", said Bale, who scored 21 goals in 39 appearances this campaign. We always want more from the players, and a moment comes when I can not ask them for more.
According to The Sun, the man whose team Zidane beat on Saturday to clinch its 13 European Cup could well be his successor at the Santiago Bernabeu.
"I have a five-year deal with Tottenham and I'm very happy at the club. I have the addicted gene and you have to live with it".