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Real Madrid president Florentino Perez has backed Gareth Bale and denied coach Carlo Ancelotti is facing the sack.

The European champions have been knocked off top spot in La Liga and were booed off after scraping through to the Champions League quarter-finals.

"Whatever happens in the coming days and weeks, Carlo Ancelotti will remain the coach of Real Madrid," said Perez.

As for Bale, he claimed the Welshman was a world-class player that the "biggest clubs" are all interested in.

Perez signed Bale from Tottenham Hotspur for a world record transfer fee of £85m in September 2013.

The 25-year-old Wales international enjoyed a strong first season at the Bernabeu, scoring 22 goals.

But he has not scored in nine games for Real and was criticised by fans during Tuesday's 4-3 defeat by Schalke at the Bernabeu, even though the Spanish side made it through 5-4 on aggregate.

"Gareth Bale is one of the best players in the world," said Perez. "The only thing I can say is that we shouldn't forget what he was able to achieve in his first year at Real Madrid."

Defeat to Schalke followed a 1-0 loss to Athletic Bilbao, with Real now a point behind Barcelona, who they travel to face on 22 March.

"I want to state categorically that the club has full confidence in our coach and in our players," Perez said in an unscheduled conference. "We have the best coach and the best players that Real Madrid could have.

"As president of Real Madrid, I appeal to our fans to support our coach and our players and ask that they feel proud of them for all they have given us and for all they will continue to give us."