3 observations from Real Madrid’s 4-3 loss to Bayern Munich

Munich, Germany - April 15: Eduardo Camavinga of Real Madrid Referee Slavko Vincic shows Eduardo Camavinga the yellow Card during the UEFA Champions League 2025/26 Quarter-Final Second Leg match between FC Bayern München and Real Madrid CF at Football Arena Munich on April 15, 2026 in Munich, Germany. (Photo by Harry Langer/DeFodi Images/DeFodi via Getty Images) | DeFodi Images via Getty Images

Real Madrid bowed out of the Champions League and likely extended their trophy-less run to two seasons after a 4-3 loss to Bayern Munich at the Allianz Arena. Here are three observations from the game:

The Camavinga problem

The second yellow may have been harsh. It may not have been. Everything around that is subject to opinion, no matter what the ratio is. However, as harsh or fair as it was, it still happened, and there is no one else to blame for it but Eduardo Camavinga himself, and the red card impacts him beyond the result in Germany.

Real Madrid looked good with 11 men. Before Camavinga had come on, Real Madrid’s build-up structure was good, and sometimes, they defended well — particularly in the second half, where Bayern really did not have much to do until Jamal Musiala came on.

There were problems, but they looked to have calmed those problems down as the second half went on. However, Camavinga’s substitution left Real Madrid in a system that left more holes in the middle of the park. Brahim’s work rate went missing, as did Fede Valverde’s presence in the pivot. The game opened up a bit for the Bavarians, and the red card was the final nail in Real Madrid’s white-painted coffin.

It was not a good idea to be wasting time by kicking the ball around while already on a yellow. These sorts of things can see a reaction from the referees, just to make it known to other players that they cannot do this, too. It did irreparable damage. There was so much space left for Michael Olise and co to operate in, and Real Madrid ultimately paid the price.

Camavinga’s personal position during the match was really complex, too. Off the back of a few disappointing performances, the Frenchman started the game on the bench despite Aurelien Tchouameni’s suspension for the clash. He would’ve hoped to then have a good performance, against Bayern Munich, no less, in the biggest game of the season, to shake off the cobwebs and convince the manager a bit more. This is not going to help his confidence.

These things matter at Real Madrid more than any other club, and rumors of Real Madrid being open to letting him go are only going to multiply.

Set-pieces…

Real Madrid conceded just one goal from a set-piece in the 4-2 loss on Wednesday night, but it was less about the goals that went in and more about the similar easy chances Bayern kept missing.

Dayot Upamecano and other Bayern players had chances to score a few more open goals from set-pieces — even through no complex sets and more simple runs, and Real Madrid had no answer for it. Andriy Lunin has never been a comforting presence in the box for crosses and set-pieces — in the 2023-24 season, that was pretty much his only drawback. However, even for him, it was a new low.

Bayern looked more and more threatening in each of the corner kicks and free-kicks they took. Despite having so many physical players that can jump high and win headers, Real are always toothless from a defensive sense.

Even against ‘smaller’ teams, Real Madrid almost always look close to conceding a corner or a free kick — at many points, they are saved by heroics from Thibaut Courtois. Lunin, with less dominance in the box during crosses, simply cannot deal with it the same way, which means the plan and set-up as a whole must be better.

On the other end, Los Blancos have been scoring more from set-pieces, but even then, it just looks nothing like a planned part of their game — unlike the likes of Bayern and especially Arsenal, who have made it a unique weapon to use in desperate times.

The positives

As difficult as the pill of the loss would be to swallow, Real Madrid did have some good moments, and some good performances. Ferland Mendy, who had the better of Michael Olise for as long as his limited match fitness could hold out for, showed the crowd once again why his inclusion in a Champions League knockout tie would never be a surprise.

He was not just defending against Olise well. Some of his off-ball runs into space to create attacking transitions, some through balls to the attackers, press-evasive passes, Mendy left it all out on the pitch. He was doing things that many fans had not seen from him in a long time, and it was a pleasant surprise.

Jude Bellingham had another brilliant showing, and this has potentially opened up a lot of avenues for Real Madrid going forward. Everyone knew he can play deeper in the midfield, but it was great to actually see it. Bellingham was sliding in for difficult challenges in the penalty area, dribbling past multiple bodies inside Real Madrid’s own half, creating chances in and around Bayern’s box, and was an energetic figure that showed just how well he can control the midfield if he is given the keys to the chain.

Bellingham plays extremely well going forward, particularly as a 10, but having him as a box-to-box presence that can control play and create from deep may just be the move that Real Madrid need. He showed that he is a versatile superstar who can turn games around, but it might be worth having him play this position again as it clearly worked well.