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Manuel Pellegrini’s job as coach at Real Madrid is safe only until the end of the month when they are to play the ‘classico’ against arch-rivals Barcelona, press reports said on Thursday.

“Pellegrini has credit until the match at Camp Nou,” said sports daily AS two days after big-spending Real were eliminated from the Spanish Cup by third division side Alcorcon, prompting jeers from fans.

Club officials have issued the Chilean coach with an “ultimatum,” rival sports daily Marca reported, adding the outcome of the match on November 29 could decide Pellegrini’s future at the club.

Real president Florentino Perez is beginning the fear that the team on which he spent over 250 million euros (370 million dollars) over the summer, with the recruitment of stars like Cristiano Ronaldo and Kaka, will not bear fruit under Pellegrini, the two newspapers said.

Top-selling daily El Pais meanwhile highlighted in a lengthy article published Thursday the “tactical errors of the Madrid coach”, who the paper said spends more time “managing the dressing room than aligning the best team”.

Rival paper ABC blamed Pellegrini’s “constant rotation” of players for Real’s poor form.

Despite the absence due to injury of Ronaldo, Real is in second place in the Spanish league, one point behind defending champions Barcelona, and has a good chance of making the knockout stage of the Champions League.

But the club is vulnerable to an accident in the European competition as its group includes a resurgent Marseille, as well as AC Milan, and a defeat to Barcelona would allow the Catalan side to extend their lead over Real in the Spanish league.

In that case Pellegrini, 56, would not withstand for long the unhappiness of fans and Real officials despite his appeals for calm, Spanish media said.

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