Lopetegui is under increasing pressure, after seeing a winless run stretched to five games with defeat at home to Levante on Saturday.
Lopetegui was hired after Zinedine Zidane stepped down at the end of last season, safe in the knowledge that he had achieved everything he could with the current crop of players.
- They have only scored 12 goals in their opening nine La Liga 2018-2019 games, their worst scoring record since the 2004-2005 season (8).
Worryingly, too, Madrid saw fit to axe two managers - Jose Antonio Camacho and Mariano García Remon - before December amid such dire circumstances.
Lopetegui is himself frustrated with the White as well after lack of transfer activities during the summer and most importantly the failure to replace Cristiano Ronaldo.
The loss of confidence in the former Spain coach is a result of the current crisis in results and the doubts which surround the management staff from many within the club. Florentino Perez has very few options, having hired most of the football managing elite at some point or another, and with the likes of Mauricio Pochettino tied down to long contracts.
It wouldn't be unusual for Madrid to be planning so far in advance, though their preferred candidates to take over from Lopetegui are less than those one would expect.
But the clock is ticking, and Madrid are on the lookout for a potential replacement.
The result - coming after back-to-back defeats to CSKA Moscow and Deportivo Alaves prior to the worldwide break - leaves Lopetegui facing an uncertain future in his job, though Marcelo feels media speculation over the manager's future is unfair.