La Real's board met on Monday to consider Sergio's position after a poor season so far.
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Sergio was hired after Imanol Alguacil's departure over the summer, but they currently sit second last on the LaLiga table with just five points from eight games.
After the defeat against Rayo Vallecano, Francisco himself admitted: "It's difficult to accept just one win in eight games, because we created opportunities to do better. I continue to focus on my work during the week and on the match plan; then others will decide the path forward."
For now, La Real aren't ready to act, though the coming games will be crucial after the international break.