Cristiano Ronaldo has said the death of Alfredo Di Stefano is a sad day for the world of football.
Real Madrid's honorary president died aged 88, two days after suffering a heart attack.
Ronaldo said Di Stefano's memory will "last forever in our hearts".
Don Alfredo leaves us, but his memory will last forever in our hearts. Legends never die. Thanks for everything Maestro. #EternoAlfredo
Real Madrid expressed their "deepest condolences" to the children, family and friends of footballing legend Alfredo Di Stefano, following his death earlier today,
They said in statement on their website: "President Alfredo Di Stéfano, died today at 17:15 at the Hospital General Universitario Gregorio Marañón in Madrid."
They added: "Real Madrid CF extends condolences to those Madridistas around the world."
The club's current president Florentino Perez and the board also expressed their "deepest condolences" and love to Di Stefano's children family and friends.
Di Stefano helped turn Real Madrid into a leading side in the 1950s, winning the European Cup five times between 1956 and 1960.
The success led to Di Stéfano being awarded the Ballon d’Or in 1957 and 1959.
The Real Madrid football legend Alfredo Di Stefano has died, according to media reports.
Di Stefano, who turned 88 this week, was being kept in an induced coma in the Gregorio Maranon hospital in Madrid after having a heart attack on Saturday.
On their website Real Madrid describe Di Stefano, who had a prodigious 11-year spell at the club, as "the greatest footballer of all time".
After joining Real in 1953, he helped turn them into one of the world's leading sides.
Real Madrid's news conference ahead of their Champions League game against FC Copenhagen was briefly interrupted on Monday after a Greenpeace anti-Gazprom poster was lowered onto a screen.
The poster, which read "Save the Arctic" and "Show Gazprom the red card" and featured the logo of the environmental protest group, appeared behind Madrid manager Carlo Ancellotti before an official swiftly removed it.
Gazprom are one of the sponsors of Europe's elite club competition.
Swiss club Basel were fined €30,000 (£25,000) by Uefa in October after Greenpeace activists abseiled from the stadium roof and unveiled a banner reading "Gazprom, don't foul the Arctic".
Real Madrid football star Cristiano Ronaldo is appealing to Florida officials to drop charges against an over-enthusiastic fan who was arrested during a match after rushing the field to embrace him.
The Portuguese striker is asking prosecutors to drop charges against Ronald Gjoka, a Canadian student who faces two counts of disorderly conduct and trespassing as a result of the incident in front of 70,000 fans during an International Champions Cup match in Miami between Real Madrid and Chelsea.
"I understand your position and the importance of enforcing rules and laws. However, I respectfully request that you and your office reconsider this decision and dismiss the two criminal charges this young man faces", Ronaldo wrote in a hand-signed letter sent to the prosecutor.
Cristiano Ronaldo has signed a new deal with Real Madrid that ties him to the club for the next five years.
Ronaldo was pictured on Real Madrid TV today signing his new deal alongside president Florentino Perez, before fronting a press conference at the Bernabeu.
The 28-year-old Portuguese forward, whose previous deal had been due to run out in 2015, expressed delight at agreeing terms after speculation in the summer he could be tempted back to Manchester United.
"Manchester is in the past," Ronaldo said. "Now my club is Real Madrid. This is my home, my family is here and I'm really happy here."
Football star Gareth Bale has said he is "proud" to have scored his first goal in his debut match at Real Madrid, following a world record transfer to the team.
Proud to score on my debut and pleased to get 60 minutes tonight, just disappointed not to get the result. Looking forward to Tuesday now.
Real Madrid coach Carlo Ancelotti praised football star Gareth Bale today, after he scored his first goal in his match against Villarreal.
The Welshman made his debut in the white shirt, and following the match the Madrid said: “I think he’s happy to score his first goal for Real Madrid. He played in a difficult match and he played well, showing his good attitude. It was a hard match for everyone”
“They played well. Their performances were good. I didn’t play them for the full 90 minutes because in the first match it isn’t a good idea, so after an hour I took them off”.
Manchester United's Rio Ferdinand and former Real Madrid footballer Michael Owen have hailed Gareth Bale's debut for the Spanish side against Villarreal, following his world record transfer.
Gareth Bale's goal-scoring debut for Real Madrid has ended after an hour with the Welshman substituted for Angel Di Maria with the score still 1-1 against Villarreal.
Minutes later, though, he celebrated from the bench as Cristiano Ronaldo scored a deflected goal to put Madrid in front at the Madrigal.