Real Madrid are set to finish the season trophyless for the second consecutive campaign.
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Figo told Marca: "The reality is that it's a bad season.
"For Madrid, if you don't win, it's always a negative season . When you're missing titles, it's because things weren't working."
One of the most important moments of the season was the coaching change, admitted Figo, going from Xabi Alonso to Alvaro Arbeloa after only a few months in charge.
"I don't think he's had enough time. We haven't even had time to analyse the months he's been here. It's very complicated," Figo reflected.