Real Madrid president Florentino Perez has moved to clear up speculation suggesting that Carlo Ancelotti could be replaced as manager in the summer.

Reports emerged overnight claiming that the Italian, who led Los Blancos to their much-coveted 10th European crown last season, could be on his way out of the Bernabeu with Zinedine Zidane earmarked as the man to take over.

However, Perez has insisted that there is no truth to these rumours, despite the Spanish giants' disappointing recent run of form which has seen them relinquish top spot in La Liga.

"I have come here to talk to you because there is a climate of great pressure," the Madrid chief told reporters. "The greatness of this club is the high demands we place on ourselves I and will not have our name tarnished when we are not going through our best moment.

"The attacks aimed at our coach and our players are wholly unfair. The club has complete confidence in our coach and in our players. Whatever happens, Carlo Ancelotti will continue to be coach of Real Madrid. We have the best coach and the best players that Real Madrid could have. They have won the respect of the football world and above all, the Madridistas.

"Together, they have won the titles Real Madrid have been waiting many years to win. They won those titles playing wonderful football that continued up until just two months ago. Real Madrid had never won four titles in a calendar year, so this coach and these players form part of the history of this club. All of that was achieved by them. We need to be together and stay serene ahead of the challenges that lie ahead.

"We will continue to fight for the 11th European Cup and La Liga and along the way, we are happy to receive criticism as long as it is respectful and constructive. Right now, what they need to feel is our strength. That support and warmth is even more important at a time like this. I will not come out every day to deny news stories, but I will say we are proud of the players, of our coach and all that they have achieved."

Madrid scraped through to the quarter-finals of the Champions League in midweek with a slender aggregate victory over Schalke, although last weekend's defeat against Athletic Bilbao saw them drop to second place in La Liga.