Hiddink to take over until the club assess the managerial market in the summer, possibly for Simeone. If the team picks up results and form improves then as usual, it will suggest the players didn't want to play for him. His last press conformance was him getting his excuses in, talk of betrayal, same sort of thing he intimated before Real sacked him.
They gave him more time than for anyone else and the uncertainty over Pep future might have given them a vague hope that they might have a chance of getting him
I would say back to Real once Rafa goes for Jose. He still has some support there but that's a wild guess, the options aren't great. If everything goes as rumoured (Pep to City, Carlo to Bayern, LVG doesn't survive the season) then United becomes a possibility. But still too early to say his next job will be