Real Madrid were stunned 2-1 by Levante earlier this afternoon to stretch their winless run to five games.
Julen Lopetegui’s men also went a club record 480 minutes without scoring before Marcelo’s consolation at the Bernabeu.
Lopetegui’s job is now under threat and Real supposedly have Antonio Conte lined up to replace him.
But reports in Spain claim Real Madrid president Florentino Perez will NOT axe the boss just yet.
Real face a tough few days, with a Champions League tie against Plzen proceeded by the first Clasico of the season against Barcelona next weekend.
Lopetegui was given three games to save his job before the Levante defeat but there are calls for him to go sooner rather than later.
Yet Spanish newspaper AS claim Perez is holding off firing the boss just yet.
According to the report, the quick turnaround of fixtures between now and the Barcelona game makes sourcing and appointing a new manager difficult.
And Perez would much rather give Lopetegui a final chance to prove himself.
AS claim Perez locked himself in the Real dressing room after the game and read the riot act to the players blasting them for their performance.
He then went for a private meeting with Lopetegui, where the manager was assured he will not be sacked just yet.
Asked if he is worried about losing him job less than six months after being appointed manager, Lopetegui said: “Right now that is the last thing I’m thinking about.
“What I want is to get the boys back up as soon as possible and prepare them for the next match we have in three days [against Viktoria Plzen].
“I feel more motivated than ever to continue, because the team has left everything on the field.
“Sooner or later we will get ahead. We know the injustice that football has had with us, but only the dynamic is changing.
“The dressing room was sad, but with the desire to raise their heads and look at the next game. The team has given their all and is going to leave everything [out on the pitch] to get out of this situation.”
After Real’s trip to the Nou Camp next week they face Melilla in the Copa del Rey, before a home tie with Valladolid in La Liga.