Under-fire manager Julen Lopetegui will reportedly be paid close to £16 million if Real Madrid sack him.
The Galacticos have gone five games without a win in all competitions this season - and are seventh on the Spanish League table.
They suffered a 2-1 defeat to Levante at the Santiago Bernabeu over the weekend - an outcome that pushed them to seventh on La Liga table.
Los Blancos will hope to return to winning ways when they host Viktoria Plzen in the Champions League on Tuesday night.
After which they face Barcelona in the first leg of this season's El Clasico at Camp Nou this Sunday.
SunSport quoting Spanish daily Sport report that Real president Florentino Perez could be forced to pay a large sum if he decides to axe the manager.
Lopetegui signed a three year deal worth £5.3 million with the Galacticos this summer after losing his Spanish national team job few days before the start of 2018 World Cup.
Meanwhile, former Chelsea boss Antonio Conte, Arsene Wenger and Santiago Solari are among top managers in the shortlist of coaches tipped to take over at the club.
Reports in Spain also reveals claims that Jose Mourinho could return for a second spell at the club - although the Manchester United boss insists he is not interested.
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