The Italian Football Federation (FIGC) has met with Pep Guardiola to convince him to take over as national team head coach and are willing to make an exceptional adjustment to their budget to hire him.
FIGC officials Paolo Maldini and his advisor Leonardo met with Guardiola over three days, explaining their project for the national team moving forward.
It remains to be seen if Guardiola wants the job, but the FIGC is making concrete attempts to bring him in as the national boss - and are willing to make "exceptional" changes to their budget in a bid to secure his appointment.
Speaking to Sky in Italy, Italian FA president Giovanni Malago said: "In the short to medium term, saying we need to tighten our belts is an understatement.
"However, exceptions have been made, which may concern the name that is so dominant these days."
In their discussions with the former Manchester City manager in Barcelona, Maldini and Leonardo presented an idea that goes beyond simply offering him a coaching role.
In the new FIGC's vision, Guardiola would be the central figure in an 'Azzurro project' that aims to rebuild Italian football on solid foundations. Italy did not even qualify for the expanded World Cup this summer.
It would be a complete overhaul that would involve not only the senior national team but all other national teams. The Catalonian has listened attentively to Maldini and Leonardo's offer and is now awaiting his response.
Other candidates for the role are Roberto Mancini and Andrea Pirlo.
The FIGC brought in Maldini and Leonardo as part of a huge shake-up in Italian football following their failure to qualify for a third consecutive World Cup.
Their task was to find a successor to Gennaro Gattuso, who left his role after missing out on qualification for this summer's tournament in North America.
Guardiola is a free agent for the first time in a decade after ending his 10-year association with Manchester City. He won 20 trophies during his time at the club and finished with a win ratio of 70.8 per cent.
Italy have failed to qualify for the last three major tournaments since winning the European Championships in 2021 under Mancini.
What Guardiola said on his future after City departure
Speaking to Sky Sports a year before leaving the Etihad, Guardiola revealed he would be taking a break from football when the time came for his tenure at City to end.
Following the official announcement of his departure, Guardiola doubled down on this suggestion by saying that a desire to spend more time with his family was the catalyst for his decision.
"No plans for [coaching] for a while. Otherwise I would be here. I need to step back. I will not [coach] for a while," he said during his final Manchester City press conference.
"I feel I will not have the energy every day, with expectations to fight for the title. I know myself, I have that energy, but I feel like I will not have it [in the future]."
Speaking exclusively with Sky Sports, he added: "There are things that I have not done that I want to do. I still have my father alive. I want to spend more time with him. My kids... And a lot of things as a human being I can do. I'm fortunate I can decide, that's why I took this decision."
What about England?
It was widely reported in 2024 that Guardiola had reached a verbal agreement with the FA to replace Gareth Southgate as the new England boss. However, he had a change of heart and opted to stay in Manchester, as Thomas Tuchel was eventually appointed, guiding England to their best World Cup finish on foreign soil.
Tuchel is contracted until the end of Euro 2028 and has vowed to see out his new deal, which was extended in February.
What is known is that Guardiola would be interested in the challenge of moving into international management. In an interview with chef Dani Garcia in 2024, he said: "What I'm not going to do is leave Manchester City and go to another country to do the same thing as I am now.
"I wouldn't have the energy to do so. I'm still here doing what I am today. But the thought of starting somewhere else, with all the process of the training and so on... no, no, no! Maybe a national team, but that's different."
Is international management the meeting in the middle for Guardiola?
Sky Sports' Callum Bishop:
Pep Guardiola is the biggest commodity in football management. That's the case now, and that was the case when he took a break after managing Barcelona. That was followed by a move to Bayern Munich, but, as Guardiola is quick to say, he is older, lacks the energy and has too much love for Manchester City to jump into a similar job.
He has expressed an interest in spending more time with his family and resting. But we know what football obsessives are like. It doesn't take long for them to get the itch back, and Guardiola is certainly a football obsessive.
A role in international management could be enough to scratch both itches. On one hand, Guardiola wouldn't be on the training pitch day in, day out, allowing him to have the time with loved ones he desires.
However, every couple of months he could work with a group of players and teach them the Guardiola way across a Euros or World Cup cycle. Not to mention that he would be entering uncharted territory.
Having already achieved everything in club football, the switch to the international game may be incredibly appealing as it is, let alone with the improved work-life balance it offers.
Imagine if he could become the first foreign manager to guide a team to World Cup glory? It sounds far-fetched considering where Italy are right now, but if anyone can do it, it's Pep.