Marco Asensio scored the lonely goal in a 1–0 win over RCD Espanyol, just three days later. Four days later, in the first match of group stage of the 2018–19 UEFA Champions League, Madrid defeated Roma 3–0 after goals from Bale, Isco and Mariano. The away game at Athletic Bilbao, on 15 September 2018, ended in a 1–1 draw with the lone goal coming from Isco. On the first day of the new month, a brace from Benzema and goals from Bale and Ramos secured Madrid three points in a 4–1 win over Leganés. On 29 August 2018, Mariano Díaz returned to Madrid. Against Girona, Madrid came out with a 4–1 victory from behind, with a brace from Benzema and goals from Ramos and Bale. The new La Liga season started with a 2–0 victory against Getafe four days later, with goals from Dani Carvajal and Gareth Bale. It was the first European finals loss after nine wins. Karim Benzema and Sergio Ramos gave Madrid the 2–1 lead up until ten minutes before the end of the game. The season started on 15 August, with the 2018 UEFA Super Cup against Atlético Madrid. Thibaut Courtois joined Madrid on 8 August 2018 from Chelsea, while Mateo Kovačić moved to Chelsea on loan.
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Five days later, Madrid agreed to sell Cristiano Ronaldo to Juventus. On 5 July 2018, Madrid signed Álvaro Odriozola.
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On 22 June 2018, Madrid announced their first signing of the season, adding Andriy Lunin to the squad. After Zinedine Zidane's departure, Madrid announced on 12 June 2018, that Julen Lopetegui would take over the head coaching position.