Primera Liga strugglers Getafe sacked coach Victor Munoz on Monday, a day after a third successive defeat put them 17th in the table and one point above the relegation places.
It was widely reported in the Spanish media that the Madrid-based side had appointed Michel, the former head of Real Madrid's youth system, to replace Munoz for the remaining five league matches this term.
Miguel Angel Portugal, Real's technical secretary, would then take over next season, the reports said.
Getafe officials were not immediately available for comment, though the club said on their website (www.getafecf.com) that a new coach would be presented to the media at 1000 GMT on Tuesday.
Michel is a former Spain international and has had stints in charge of Rayo Vallecano and Real Madrid Castilla in the lower tiers of the Spanish league.
Munoz, 52, took over from Dane Michael Laudrup in June 2008 and previously coached Villarreal, Real Zaragoza and Greek club Panathinaikos.
"We are on the edge of the abyss but there is a good chance the team will save itself," he told a news conference.
"I said one more match would help clarify the situation but it was not to be and the decision was taken to fire me."