According to "Aspen" report, although Real Madrid has felt tremendous pressure from the outside world, the club has not considered replacing Alonso.
The club is concerned about the current situation of the team and requires Alonso and the players to respond immediately. Nonetheless, current plans do not include taking any extreme measures, especially sacking head coach Alonso at this point in the season.
The performance and image presented by the team is unsatisfactory, and there is clearly a problem, but the solution lies within the locker room and the relationship between the coach and the team. The disconnect has become apparent in recent weeks, but the club's message to all parties is that the interests of the club trump personal issues and a solution must be found.
Although no ultimatum was set, all members were required to respond immediately. Football is results-oriented and if results are poor, the blame usually falls on the head coach. But this does not mean that Alonso will face a life and death test against Olympiacos. At least judging from the messaging from the top, they are trying to take control again.
It is worth noting that Alonso seems to rely too much on his own team and is somewhat divorced from Valdebebas' daily environment. This may be related to his character. The club believes in his work and the real test will come in the future, not now. Regardless, the team needs to regain what was lost.
The Champions League is coming, and this event will ultimately determine Alonso's fate, but usually at a critical stage later in the season. During this period, the club chose an independent path, free from media noise. They are not looking forward to the close embrace between coaches and players in the past, but they hope to restore the tacit understanding and understanding they once had when working with Ancelotti.