Real saw their lead in La Liga cut to one point last weekend by Valencia and Perez let it be known that only a league and Champions League double will save the former Manchester United assistant from the sack. To add to his problems, Queiroz's overly-physical training regime has proved unpopular with the galacticos.
For Eriksson, an offer from Madrid would certainly be tempting. While he still has reservations about joining Chelsea when the public backlash is likely to be so fierce, a move to Spain would be free of such difficulties.
The FA see Madrid as a far greater threat to their hopes of keeping Eriksson, who is well aware of the uncertainty surrounding Queiroz. The FA could be made to sweat even longer on Eriksson's decision to sign a new contract which would run until 2008.
Chelsea will also be alarmed by the developments when they appear so determined to replace Ranieri at the end of the season.
Roma coach Fabio Capello and Milan's Carlo Ancelotti will move up Roman Abramovich's wishlist if Eriksson resists the Russian's advances, but whatever happens Ranieri seems doomed. The Italian admitted as much yesterday as he tried to prepare his players for this evening's historic encounter at Stamford Bridge.
'Since the beginning,' he said in reference to Abramovich's arrival at Chelsea last summer, 'I put it in my mind that even if I win everything, I may still end up going home.'
Ranieri, who has three more years left on his contract, said he had no plans to resign. 'I am not stupid,' he said. 'I am not crazy. I'm like my boys. I am a gladiator. I'm enjoying this. Face to face. I have some of that English spirit.'
