Club drew 2-2 with Gary Neville's Valencia last night and Zidane linked with top job
Reports in Spain claim that Real Madrid will sack manager Rafa Benitez by the end of today.
The former Liverpool manager has been under-pressure for much of this season, having replaced Carlo Ancelotti in the summer.
Real missed a chance to close the gap on rivals Barcelona on Sunday night when they drew 2-2 at Gary Neville's Valencia and were down to ten men after Mateo Kovacic's dismissal.
That result left the 10-time European Cup/Champions League winners four points behind league leaders Atletico Madrid and two in arrears of Barca, who have a game in hand.
Benitez had been booed vociferously by Real fans ahead of the club's 3-1 win over Real Sociedad last week.
Madrid-based sports daily Marca, which is sometimes regarded as a mouth-piece for the capital club has claimed that president Florentino Perez has called a meeting to discuss Benitez's future amid suggestions that a parting of the ways could be announced by 5.30pm.
Real Madrid Castilla manager Zinedine Zidane has been linked with the position should it become vacant.