Madrid, Sep 30 (IANS): Real Madrid coach Carlo Ancelotti has defended his work at the club in the wake of his side's 0-1 home defeat to local rivals Atletico Madrid in a Spanish Primera Liga.

The defeat Saturday, is the first time Real Madrid have lost in the Santiago Bernabeu Stadium in almost two years and the first league defeat they have suffered against Atletico since 1999, reports Xinhua.

Real Madrid are now five points behind Atletico and FC Barcelona, who have both won their first seven games of the new Primera Liga season.

Real Madrid looked like a collection of talented players who are still unsure of just what they are playing at, although speaking after the game, Ancelotti defended his work and that of his players.

"Now is the moment for us to think that this team has done well in recent weeks. We had only drawn one game until now," he said.

"Five points is not a small disadvantage, but the league is very long and we have a long time to catch up. I don't think it is escaping us. Now what we need to do is improve our work as a team, which is the main problem," commented Ancelotti.

Spanish sports paper Diario AS headlined its post game Sunday edition, "Money 0 - Football 1" in reference to the result and the money Real Madrid spent on new signings, such as Gareth Bale this summer.

Meanwhile, the pro-Real Madrid, Marca, preferred to forget Real's struggles and highlight "The Best Atletico Madrid in History" in reference to the club's seven wins from seven games.

However, despite his side's magnificent start to the campaign and the impression they have given in the first month and a half of the campaign, Atletico coach Diego Pablo Simeone continues to insist his side are not title candidates, insisting Real and Barca's superior economic power would be decisive over a 38-game season.

"It would be perfect to be able to change, but at the end of a long season, economic power is superior, although we will try and give our heart and soul in every game," he said.

"This is very long and you can't trust anything in football and nor can you stand still to admire what you have done. We are working well and for the moment this side is getting its reward for hard work," concluded Simeone.