Pellegrini has come under fire following his side’s poor start to the season.
Real Madrid have lost three of their last five fixtures and suffered a shocking defeat to Alcorcon on Tuesday night in the Copa del Rey.
Real Madrid will pay Pellegrini €11million for the remainder of his two-year deal at the club if they decide to sack him, according to Sport.
Just three months ago Real paid €4million in compensation to Villarreal to bring the coach to the Bernabeu.
