Real Madrid president Florentino Perez backs Carlo Ancelotti and Gareth Bale

Real Madrid president Florentino Perez has strongly denied suggestions coach Carlo Ancelotti could lose his job at the club in the coming weeks.

Ancelotti’s side, who narrowly escaped elimination from the Champions League despite losing to Schalke on Tuesday night, are without a win in three matches and have been knocked off top spot in La Liga for the first time since the start of November.

Reports in Spain on Thursday morning claimed Ancelotti was in serious danger of losing his job if his side fail to produce the goods in next week’s Clasico against Barcelona, but president Perez says the Italian will be staying at the Bernabeu whatever happens.

Live La Liga Football

Speaking at a press conference, Perez said: "To use the fact that we are not on our best form at the moment to report information that is not true is unacceptable. I want to state categorically that the club has full confidence in our coach and in our players.              

"And I want to say, contrary to a report published today, that whatever happens in the coming days and weeks Carlo Ancelotti will remain the coach of Real Madrid. We have the best coach and the best players that Real Madrid could have.

"As president of Real Madrid, I appeal to our fans to support our coach and our players and ask that they feel proud of them for all they have given us and for all they will continue to give us."

Perez also expressed his support for Gareth Bale, who has been criticised by some Madrid fans for his recent displays.

"Gareth Bale is one of the best players in the world," said Perez. "The biggest clubs fought and continue to fight to secure his services.

"The only thing I can say is that we shouldn't forget what he was able to achieve in his first year at Real Madrid."

Real face Levante on Sunday, live on Sky Sports, as Ancelotti’s men look for a morale-boosting victory ahead of their vital clash with title rivals Barca.