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The former President of Real Madrid Ramon Calderon has told Sport Today that the club will not panic buy during this transfer window.

On Thursday Real - and their city rivals Atletico Madrid were banned from registering new signings for the next two transfer windows after being found to have breached rules on the international transfer and registration of players aged under 18.

It's led to speculation that they will try to buy star players before February 1st when the current window closes.

But Calderon says an appeal, should mean the transfer ban will be delayed.

Photo: Gareth Bale with Real Madrid Florentino Pérez after signing for the club. Credit: Getty Images.