Lopez Caro leaves Real Madrid to coach Racing

Real Madrid said farewell to coach Juan Ramon Lopez Caro on Thursday after Racing Santander announced he was joining them next season.

"Obviously Racing are a humbler club with one of the smallest budgets in the league, but the demands will be the same," the coach told a news conference.

"After five years here I am sad to leave. I ask for forgiveness from the Real fans who had confidence in me, because professionally I was not able to rise to the occasion."

Lopez Caro was promoted from Real's B team to replace the sacked Vanderlei Luxemburgo last December and led Real to second place in the Primera Liga to earn them a place in the Champions League group stage.

Real have not yet appointed a replacement for next season and are distracted from the task of looking for a new one with a presidential election planned for July 2.

Racing were steered to safety by caretaker coach Nando Yosu as they finished in 17th place, one point above the relegation places.