Real Madrid president Florentino Perez held marathon crisis talks with fellow board members immediately after defeat to Ajax.
The 1-4 thrashing saw Real bundled out of the Champions League in a week they were also dumped out of the Copa del Rey and saw their LaLiga hopes end.
AS says the meeting ran to 2am as all issues were on the table, including the future of coach Santiago Solari and several senior players.
Those in the sights are Toni Kroos, Marcelo and Gareth Bale, who are all expected to be moved on.
It was also agreed that Solari will be asked to step down at the end of the season, despite his deal running to 2021.