Real Madrid boss Rafael Benitez has been told he retains the club’s full backing following the 4-0 home defeat by Barcelona.
Benitez, 55, was only appointed in the summer, but fans chanted for him to be sacked after Saturday’s match.
Following a board meeting on Monday, club president Florentino Perez said: “He has all our support and confidence.
“Rafa has only just started his job here. Let him keep working and he will achieve his objectives.”
Perez added he could “only talk about this moment”.
He said: “I cannot say what will happen in the future. No-one can say what will happen in six months.”
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The 68-year-old rejected suggestions striker Cristiano Ronaldo, the Spanish club’s record goalscorer, had told him he is unhappy playing under Benitez.
“Ronaldo has never said anything to me about Benitez,” he said.
Perez – who returned to the club in 2009 having resigned as president in 2006 – was also a target for angry fans on Saturday.
He said he understood their disappointment but asked them to display “more than ever” their “support to the team and to the players”.
Real’s next game is at Shakhtar Donetsk in the Champions League on Wednesday, followed by an away game against Eibar in La Liga on Sunday.
Benitez succeeded Carlo Ancelotti in the summer, with Perez describing him as “a man who breathes football, professionalism and the very ethos of our club”.
Saturday’s defeat leaves Real third in La Liga, six points adrift of leaders Barcelona and two behind with city rivals Atletico Madrid.
Spanish football journalist Graham Hunter told BBC Radio 5 live: “This is a proper crisis, when you are humiliated in that manner, and not for the first time in recent times.
“Perez only had two options and the one he is taking is to back Benitez. If he was to sack him, where does he go?
“Even when Perez resigned, things weren’t as bad as this between him and the fans.
“There are two reasons he hasn’t sacked Benitez; he doesn’t have anyone to replace him and also because the manager is a buffer. At the moment, when things go badly, Benitez will draw the criticism and is in the way of the president.”
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