Ancelotti???s side, who narrowly escaped elimination from the Champions League despite losing to Schalke on Tuesday night, are without a win in three matches and have been knocked off top spot in La Liga for the first time since the start of November.
Reports in Spain on Thursday morning claimed Ancelotti was in serious danger of losing his job if his side fail to produce the goods in next week???s Clasico against Barcelona, but president Perez says the Italian will be staying at the Bernabeu whatever happens.
Speaking at a press conference, Perez said: “The club has full confidence in our coach and our players. Whatever happens in the coming weeks, Ancelotti will remain Madrid coach.
“We have the best manager in the world and the best players we could have, we feel very proud of them.???
Los Blancos face Levante on Sunday, live on Sky Sports, as Ancelotti???s men look for a morale-boosting victory ahead of their vital clash with title rivals Barca.