Nineteen days after the death of Santiago Bernabéu, Luis De Carlos was appointed as new President of the club on 21 June 1978.

[2] Owing to financial issues including a growing debt, De Carlos did not reinforced the squad with high-profile players, instead of that, there had a few low-cost arrivals such as: Rafael García Cortés and Francisco García Hernández along Maté and Hipólito Rincón in a sign of austerity for upcoming years, in an era known as "The Madrid of Los Garcia" until 1982.

[3] In the European Cup the team, shockingly, was eliminated early in the second round by underdogs Swiss side Grasshopper Club Zürich on the away goals rule.

[4] Meanwhile, in the Copa del Rey the squad advanced to the final where it was defeated by Valencia CF 2–0 at Vicente Calderón Stadium.

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