This is an updated version of a piece that was originally published in April 2024.

“Real Madrid vs Manchester City is a modern Clasico,” former Real Madrid coach Jorge Valdano said last April, previewing the two clubs’ 2023-24 Champions League quarter-final first leg at the Bernabeu.

The tie that followed did not disappoint. Madrid and City drew 3-3 in the Spanish capital before a 1-1 draw at the Etihad led to a penalty shootout that Los Blancos won en route to lifting a record-extending 15th European Cup/Champions League title.

The sides have experienced mixed fortunes in this season’s competition — but even meeting in the new play-off round cannot dull the rivalry’s shine. Madrid came from behind at the Etihad late on to beat City 3-2 last week, meaning they have now exchanged 30 goals in their past seven meetings. It also sets up an intriguing second leg at the Bernabeu tomorrow (Wednesday).

This season is the fourth in a row that Madrid and City have met in the knockout stages of Europe’s elite club competition. Fans continue to be gripped, with that first play-off game setting a new streaming record for Amazon’s Prime Video service in the UK with figures of well over four million viewers.

There was an extra layer of intrigue in that match. City fans held up a banner that read, “Stop crying your heart out” in reference to Madrid forward Vinicius Junior being beaten to the Ballon d’Or award by Rodri and Madrid snubbing the ceremony in October. The Brazil international played a key part in the win and afterwards told Spanish TV station Movistar that the banner had given him “more strength to play a great game”.

In 2021-22, Madrid’s magical comeback in the semi-final second leg at the Bernabeu drove them into the final, where Liverpool were defeated 1-0. The following season, at the same stage of the competition, City produced a dominant home display to beat Carlo Ancelotti’s side 4-0 in the second leg before claiming their first Champions League title against Inter. Then there was that epic win on penalties for Madrid in the quarter-final at the Etihad last season.

The circumstances are different this campaign, with a win in this tie granting progress to the round of 16. Madrid only made the play-offs after finishing 11th in the inaugural league phase following defeats to Lille, Milan and Liverpool. City have struggled throughout the season and scraped through in 22nd place.

Madrid have long held European success in the highest possible regard, perhaps at times to the detriment of their domestic progress (for example, they have won the Copa del Rey, Spain’s equivalent of the FA Cup in England, just three times since lifting the trophy in 1993).

The story the club like to tell about themselves centres around this more than anything. Madrid have suffered damaging defeats to Barcelona in La Liga (4-0) and the Supercopa de Espana (5-2) this season — but those would surely be forgotten if they lifted another Champions League trophy at Munich’s Allianz Arena in May.

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Valdano’s point was not to totally discount the history of Madrid’s rivalry with Barcelona; he believes the recent meetings with City have taken on a greater importance recently in part because of familiar connections. It is also true that Barca appear better placed than either side to go all the way this season after finishing second in the league phase, automatically qualifying for the round of 16.

“Clasicos are built on rivalry and (City’s manager and former Barcelona player and coach Pep) Guardiola is the favourite enemy of Madridismo (Madrid fans),” Valdano told The Athletic last year. “It was enough to hear the response from the fans at the Santiago Bernabeu (in the 2023-24 first leg) after the speaker announced his name over the PA system. He was the most whistled.

“But 10 years ago and five years ago, we were all talking about Barcelona-Madrid. Now the footballing importance leads us to talk about Madrid-City as the best in the world.

“It’s very good, because history is being renewed. City are getting to know glory, which is difficult without having a previous context. City are new and economically influenced. Madrid are new in any era. They can always adapt to hitch a ride.”

Guardiola usually gets a hostile reception at the Bernabeu (Angel Martinez/Getty Images)

Since Guardiola arrived in Manchester in summer 2016, the two teams have met a total of nine times (Wednesday’s game will be the 10th), with Madrid winning three to City’s four.

City’s sole Champions League triumph is dwarfed by Madrid’s 15. But Madrid still see City as one of their main rivals for European success.

“Surely, in the last seven or eight years, Madrid and City were the two most successful teams,” said a dressing-room source — who, like others cited here, preferred to remain anonymous because they did not have permission to speak.

“It’s true that City only won it (in 2023), but they came close to winning it many more times.”

Those behind the scenes at Madrid saw the play-off draw against City as an “early final”. Ancelotti’s coaching staff see Guardiola as very difficult to analyse and they rarely trust the line-ups and systems he uses in the weeks leading up to their encounters. City are fourth in the Premier League and Madrid’s coaches have been surprised by how much the loss of Ballon d’Or-winning midfielder Rodri to an anterior cruciate ligament (ACL) injury has affected them.

Vicente del Bosque, another former Madrid head coach and a World Cup-winning manager with Spain in 2010, agrees that Madrid and City have become the biggest draw in European football.

“I think both teams have dominated football in recent years and Madrid have maintained an extraordinary level,” Del Bosque says. “I remember 2022, with the 14th title and the comeback against City as the most spectacular.

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“City are one of the few teams that dominate Madrid with the ball, even though they have players to counter-attack. And Madrid look comfortable without the ball, taking advantage of transitions, even though they have players to control possession.

“Now there is a debate about the European Super League, I think playing these games as a knockout is better. I look at the sporting aspect, not the economic aspect, and it makes it more entertaining and more of a rivalry.

Madrid’s Champions League comeback in 2022 made for spectacular viewing (Angel Martinez/Getty Images)

“When I was a player, and also as a coach, the great opponent was Bayern Munich. The Netherlands, with Ajax, and Italy, with Milan, also had teams that rivalled us, but not so much any more. Now the range has opened up.”

For their part, sources on Madrid’s board still see City as the team to beat. This is also due to the fact that, since the arrivals of Ferran Soriano as chief executive and Txiki Begiristain as sporting director (both, like Guardiola, formerly of Barcelona), City have grown as a club and earned the respect of Madrid, with whom they maintain a relationship of great admiration.

In this sense, Valdano dares to draw another parallel in the way both teams are structured centrally around one figure.

“Both at Madrid and at City, it is clear who is in charge,” he concludes.

“At Madrid, it’s (club president) Florentino Perez. At City, everybody knows it and nobody says it — but Guardiola won’t find he can work without a boss at any other club.”

(Top photo: Carl Recine/Getty Images)