Since the elimination at the hands of Bayern in the Champions League quarterfinals, the 2026-27 season has opened for Real Madrid. La Liga remains open, with Barcelona six points ahead before playing at home today against Celta. But no one at the White House sees any chance of winning the title, except for a Barcelona collapse that would be historic.

All analyses made or to be made lead to one figure: Florentino Perez. In recent days, the Real Madrid president has spoken with many people, inside and outside the club. The president acknowledges two capital errors in the current season: the first was the signing of Xabi Alonso; the second was rushing Alvaro Arbeloa's promotion to the first team.

With the Basque coach, the disenchantment came quickly. Under the current Real Madrid coach, it has been more gradual, but the Munich match cleared up the president's doubts and helped ensure a change of direction for next season.

During those conversations, Vinicius' name has come up repeatedly. Faced with the complaints and demands directed at the Brazilian, the president's response has been forceful: "That is my business, leave it to me."

Florentino Perez is clear that the player is an asset to the club, both now and in the future, and that his renewal will come. Furthermore, any changes that are considered — which will not be radical — depend on Vinicius being happy in Madrid.

Their relationship has been very close since the Brazilian signed for Madrid. Vinicius is very grateful to his president for the support he has shown him in reporting the cases of racism he has suffered.

The Madrid president finds it hard to understand what is happening this season with Vinicius. His confidence in the Brazilian is total, and he is convinced that he has more than enough arguments in his hands for the No. 7 to once again be the player who already has two Champions Leagues. The one who scored in the finals in Paris and London.

Florentino Perez is sure that there are years ahead in which Vinicius will be stellar, with Kylian Mbappe by his side. The criticism of the Frenchman surprises the president, who cites a numerical argument: the number of goals he has scored.

The opening of the academy doors to the first team by Alvaro Arbeloa does not fully convince the president. He does not understand that they have bet on developing players in delicate moments rather than on footballers the club has invested heavily in.

The repeated absences from the starting XI of Alvaro Carreras (€50 million), Dean Huijsen (€62.5 million), and, especially, Franco Mastantuono (€45 million) are something that bothers him. These are very important investments by the club that are called into question, given so much time on the bench.

With things as they are, Florentino faces these weeks with the demand to reactivate a project that he considers very much alive. He is convinced that the squad's quality has nothing to do with what has been shown on the field this season.

On one hand, he is looking for a coach who knows how to read it and get the most out of it. On the other hand, the players already know, from his own mouth, that their share of responsibility in what is shaping up to be a trophyless season does not go unnoticed.

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