When Ancelotti returned to Madrid in 2021 following Zinedine Zidane’s unexpected resignation, the club were drifting.
The stadium redevelopment was mid-construction, the squad was thin and there was a palpable lack of direction. Yet Ancelotti brought calm, clarity, credibility – and a remarkable resurgence.
In his first season back, after the departure of key players Sergio Ramos and Raphael Varane, they secured a La Liga and Champions League double, plus the Spanish Supercup, an achievement few believed possible given the structural limitations.
Key areas of the squad remained unaddressed because of financial pressure caused by escalating stadium costs. But through man-management, tactical pragmatism and the brilliance of individuals, Madrid triumphed.
However, that same success planted the seeds of future discord as the squad was not improved dramatically and players who left – especially Toni Kroos – were not replaced adequately.
When Mbappe finally arrived from Paris St-Germain last summer, Perez believed the team would take another leap forward.
But fractures had already begun to appear, not just tactically but inside the changing room.
Behind closed doors, disagreements surfaced over physical preparation and discipline, and Perez, always deeply involved, became more vocal in his frustration.
From the directors’ box came disdainful comments, on the lack of defensive work by the main stars, despite meetings between the manager and them to turn things around, and Ancelotti’s management of emerging talents.
Questions were raised over the cautious handling of Guler, and doubts cast over whether forward Endrick would thrive under Ancelotti’s approach.
The tension, though never explosive, became constant. By October the club leadership felt Ancelotti was not addressing the issues and the idea of Madrid taking a new direction started to take root.
