Isco apologized for not getting on the bus on the day of Ajax.
Shortly after Zidane left, Cristiano Ronaldo announced he was leaving to join Juventus, and Madrid has endured an up-and-down season which led to the humiliating losses to Barcelona and Ajax at the Bernabeu.
Isco has made 16 league appearances for Real this season, amassing one goal and two assists.
"The Real Madrid board of directors, which met today, Monday 11 March 2019, has chose to terminate Santiago Solari's contract as first-team coach, whilst Real Madrid have offered him the opportunity to remain at the club", a statement on the Real Madrid website reads.
Hazard is expected to tell Chelsea he wants to join Real and has not given the London club any encouragement that he will sign the contract extension worth well over £300,000-a-week that has been on the table for months.
Real Madrid are set to re-appoint Zinedine Zidane as their new manager this week.
Ramos takes responsibility for Real Madrid woes
Sergio Ramos had said earlier on Monday he accepts blame for the club's "deeply disappointing" season but insists the players have no say on the coaching situation.
Both players travelled for Madrid's 4-1 La Liga win at Real Valladolid on Sunday, with Marcelo making a late substitute appearance and Ramos accompanying the squad even though he was suspended for the game.
The big surprise was that Solari has been offered the chance to remain employed at Real Madrid - if he decides he wants to.
Gareth Bale is also said not to be interested in working with Jose Mourinho at Real Madrid and would leave the club if he comes in.
It hasn't been specified what Madrid have in mind for Solari - although the logical outcome would be for him to retake the reins of the reserves - Real Madrid Castilla. Madrid hired Solari in November, giving him a contract through 2021.