Real Madrid set to make announcement, expected to back Benitez

The former Liverpool manager was already under huge pressure after poor performances and shaky results, but Saturday's 4-0 defeat by Barcelona at the Bernabeu turned his woes into a full-blown crisis.

Real Madrid's board of directors are to meet later on Monday, with the press conference to follow.

[REACTION: Benitez laments painful result, while Suarez offers his sympathy]

With rumours swirling, club president Florentino Perez is believed to be considering firing Benitez and bringing in B side coach Zinedine Zidane for the rest of the season.

[ZIDANE DENIES EVERYTHING: Zinedine Zidane plays down talk of taking over as Real Madrid manager]

Yet Perez has consistently backed the manager he installed in June despite the criticism levelled at the team.

And Marca reported on Monday morning that Benitez is safe, at least for now - though the paper did also claim that Benitez is loathed in the dressing room.

Further reports have claimed that star player Cristiano Ronaldo has threatened to quit the club unless Benitez is sacked.

[SPANISH MEDIA REPORTS: Benitez to keep his job as Zidane says he's not ready to take over]

But at a club so riven with poltics as Real, it is very difficult to predict what will happen - particularly given the fact that it is not unprecedented for Real Madrid to announce such a press conference only to back the incumbent manager.

Furthermore, Zidane has publicly poured cold water on suggestions that he will take over, saying this weekend that he still lacks the experience to do so and wishes to finish the job he has started at Real Madrid Castilla, the club's second string team.

[LOOKING GRIM? Time up for Rafa Benitez? Real Madrid boss facing sack as 'Bernabeu demands heads']

Cristian Maxedo of Eurosport's Madrid office believes that Benitez continues to be safe: "Yes, they have just announced a press conference for tonight but it’s something that we would expect after the disaster in the Clásico, and especially after Florentino Pérez was booed during the match.

"We think they are not going to fire Benítez. They will strengthen Benítez’s position and show their total support for him."

[FULL STORY: View from Spain: 'Benitez won't be sacked. They'll show their full support']