If rumours are accurate, it would appear that the Spaniard has not only lost the dressing room but also the confidence of the powers that be after a run of disappointing results.
After a decent start to their 2025/26 campaign, injuries have befallen the first-team squad and, as a result, Los Blancos have struggled to put in the standard of performances expected of late.
Mbappe's absence adds to Real's woes
Alonso's luck hadn't changed in time for his reunion with former mentor Pep Guardiola, as Kylian Mbappe - Real Madrid's hero in the last game against Olympiacos, when he scored all four goals in a 4-3 victory - was the latest to be ruled out of contention for a place in the starting XI.
Before kick-off, the hosts were in fifth place in the Champions League table on 12 points, while City's 10 points placed them ninth and just out of the automatic qualification places for the knockout rounds.
If Alonso's six changes were mainly as a result of Real's injury crisis, Guardiola's swapping of 10 players from those that started against Bayer Leverkusen showed everyone the depth of talent that the Catalan possesses in his City squad.
Bright opening from Los Blancos
The match was Pep's 14th away game against Los Blancos in his managerial career, only behind his 15 trips to Arsenal, but in the hosts' favour was that he has been winless in his last four visits (D2, L2).
Erling Haaland's 50th start in the UCL couldn't have come at a more prestigious venue than the Bernabeu, and his 50 goals in his previous 49 starts were already the most ever by a player in his first 50 starts in the competition.
A bright opening to the game saw Real come storming out of the blocks, with three chances from Fede Valverde, Alvaro Carreras and Vinicius Jr in the opening seven minutes.
Though City weren't able to trouble Thibaut Courtois in the opening exchanges, they did see 66% of the ball in the first 15 minutes, and that really set the pattern for the rest of the game.
Haaland a peripheral figure
Haaland still hadn't touched the ball by that point and had been something of a peripheral figure.
By contrast, a recalled Rodrygo had been at the sharp end of proceedings, having already created three chances - more than any other player on the pitch - before he opened the scoring with a fine drive across Gianluigi Donnarumma.
It had taken the Brazilian 32 games and 38 shots to find the net again, since his last goal against Atletico Madrid back in March. The strike was also his fifth against City, which is the most against one opponent that Rodrygo has managed.
Jude Bellingham's assist for the goal was his first of the current UCL campaign but his 14th in the competition in total.
An all-action performance from the Englishman that included three shots at goal, three chances created and 11 completed passes in the final third, two successful dribbles and two tackles won, was certainly timely.
Courtois to blame for City's equaliser
Real were only ahead for seven minutes, however, and Thibaut Courtois can blame no one but himself for spilling Josko Gvardiol's header right at the feet of Nico O'Reilly.
The full-back equalised and in so doing became the second-youngest player to score for an English club against Real Madrid in the Champions League, behind only Alan Smith for Leeds United in March 2001.
Haaland's customary goal arrived before half-time, a penalty kick with just his sixth touch of the half after the Norwegian had been felled by Antonio Rudiger. It was a night to forget for the German, who made only one successful tackle in the match.
Incredibly, not since March 1991 against Spartak Moscow, and for only the second time in Real's history, had they scored first but gone in behind at half-time of a European Cup/Champions League game.
Without the pace that Mbappe provides up front, the hosts found it difficult to break down a solid City defence.
Midfield dominance the key to City's win
17 clearances from the visiting back four were almost as many as the entire Real XI managed, not to mention that their distribution was on point, with O'Reilly posting a sensational 91.4% pass accuracy.
However, the control that City exerted in the midfield areas is ultimately what won them the game.
With Real shorn of Valverde in his natural position, whilst they weren't necessarily lightweight, they were no match for the visitors. Nico Gonzalez's 96.6% accuracy (100% in the final third) was best-in-class, and a major reason why Los Blancos were often chasing shadows.
The whistles from the stands long before the end, as well as 16 shots in total but just one on target, told the story.
Opportunity missed
Guardiola obviously felt his side was in a comfortable enough position that he could afford to bring off Haaland, Phil Foden and Rayan Cherki with 20 minutes left.
With City easing off, a late flurry of chances for Real might, on another day, have seen an equaliser. Endrick's effort against the woodwork was as near as they came, however.
When poring over the detail post-match, Alonso will have understood that this was a big opportunity missed.
His side had had more possession, took more shots and played more passes than City, but when it really mattered, the players didn't step up. Again.
Rodrygo's six crosses, six dribbles and five chances created, on top of having Real's only shot on target, at least meant the Brazilian could hold his head high on a disappointing night for the club.
Time will tell if the game turns out to be Alonso's last.....
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