Arbeloa is heading for the exit. Barring something extraordinary in La Liga, Real Madrid will finish the 2024-25 season without a single trophy — and if you know your Florentino Pérez history, you know that never ends quietly.
Since taking office in June 2000, Pérez has presided over five trophyless seasons in the league. Each one triggered a significant overhaul. The pattern is consistent enough to be treated as policy rather than coincidence.
The blueprint Florentino follows
The first came in 2003-04. The Galáctico project was already cracking — Queiroz's attempt to modernise Del Bosque's model collapsed, and a single Spanish Super Cup was all there was to show for the season. The following year was worse. Camacho lasted three La Liga matches, Owen arrived with fanfare and delivered little, and Madrid cycled through Remon and Luxemburgo without winning a thing. Two blank seasons in a row. By February 2006, Florentino had resigned. The first Galáctico era was over.
His return in 2009 followed a similar script. Pellegrini arrived alongside Cristiano Ronaldo, Kaká, Benzema, Xabi Alonso and a squad assembled at enormous cost. They won nothing. The season's defining image: a 4-0 Copa del Rey loss to Alcorcón, a third-tier side. Mourinho was signed within weeks of the campaign ending, Raúl and Guti were shown the door, and what followed was four Champions League titles in seven years.
The 2020-21 season broke that run — no league title, semi-final exit to Chelsea, quarter-final loss at home to Real Sociedad in the cup. The response wasn't a managerial change immediately, but it accelerated Zidane's second departure and the toxic saga around Sergio Ramos reached its conclusion. Ramos left that summer. Ancelotti came in. Madrid won La Liga in 2022, the Champions League the same year, and La Liga again in 2024.
The only coach in the Florentino era to survive a trophyless season was Luxemburgo — and only barely. He inherited the wreckage in December and lasted 14 La Liga games into the next campaign before being dismissed. That is the closest thing to leniency this presidency has shown.
What changes this summer
Arbeloa is not Mourinho. He's not Ancelotti. He's not even a proven head coach at this level, and the noises coming out of Valdebebas suggest the club knows that. Madrid are already mapping out scenarios for the bench next season.
The club holds 37 titles under Pérez — roughly 30% of everything in their entire history. The expectation is structural, not aspirational. A squad of this quality finishing without silverware is treated internally as a system failure, not bad luck.
History puts Real Madrid's next managerial appointment odds firmly in the spotlight. Whoever comes in next inherits a dressing room that knows what follows a season like this — and what's expected in response.
Only Luxemburgo tested Florentino's patience across two empty seasons. He didn't make it to the third.
