Real Madrid Thrashed by Benfica, Florentino Pérez Tempted to Look Back for Answers

Real Madrid’s painful night in Lisbon has triggered familiar questions at the Santiago Bernabéu. After a bruising 2–4 defeat to Benfica in the Champions League, club president Florentino Pérez is reportedly considering a solution from the past: bringing back an old face to steady the ship.

The loss, suffered at the Estádio da Luz on Thursday (29 January 2026), was not just damaging on the scoreboard. Real Madrid ended the match with only nine men after Raúl Asencio and Rodrygo were both sent off, leaving Los Blancos powerless to mount a late comeback. The collapse exposed deep cracks in Madrid’s current project and immediately placed head coach Álvaro Arbeloa under intense scrutiny.

Arbeloa, who was appointed after the collapse of the ambitious Xabi Alonso project, now finds his position increasingly fragile. According to reports from Defensa Central, doubts at board level have reopened discussions around a familiar and controversial name: José Mourinho.

Impressed by Mourinho from the Touchline

Madrid’s interest in Mourinho is not purely nostalgic. Ironically, the Portuguese manager reminded his former club of his qualities during the very match that deepened their crisis. Now in charge of Benfica, Mourinho’s team outplayed Madrid with relentless intensity, tactical discipline, and visible hunger from the first whistle to the last.

Defensa Central reports that Pérez was particularly struck by Mourinho’s energy and authority on the sidelines. Watching his former coach orchestrate Benfica’s performance reportedly sparked a question at the highest level of the club: could Mourinho deliver one final chapter of success in Madrid?

“With the Xabi Alonso project failing and uncertainty surrounding Arbeloa, Mourinho has once again entered the conversation,” the report noted. “After seeing how his Benfica side competed against Madrid—with energy, intensity, and desire—Florentino Pérez is wondering whether there is room for one last spell with the Portuguese manager.”

Following the Ancelotti Blueprint

Should Mourinho return to Madrid, he would not be the first veteran coach to be trusted with a second act. His potential comeback would mirror the path of Carlo Ancelotti, who famously returned to Real Madrid in his early sixties after a spell away from Europe’s elite.

Ancelotti’s second tenure, which began after his time at Everton, proved that experience and calm leadership can still thrive at the highest level. Club insiders believe a similar scenario could unfold with Mourinho, who, despite his polarizing style, remains one of the most decorated managers in modern football.

Not the Only Name on the List

Mourinho, however, is not alone in Madrid’s shortlist. Reports also suggest that Real Madrid have opened preliminary talks with Unai Emery, currently in charge of Aston Villa.

Emery’s reputation as a European specialist and his ability to build competitive squads make him an appealing alternative should Madrid decide to act in the summer transfer window. His tactical flexibility and proven success in continental competitions align closely with what the club hierarchy believes Madrid need during this transitional phase.

For now, the future remains uncertain. But one thing is clear: Real Madrid’s defeat in Lisbon has not only shaken confidence on the pitch—it has reignited a familiar debate in the boardroom. And once again, the club may be tempted to look backward in order to move forward.