Catalan giants Barcelona and Basque outfit Athletic Bilbao are scheduled to meet in the showpiece event.
The Bernabeu is the obvious venue because of its capacity but Madrid are reluctant to stage the game given that the last time Barca and Bilbao met in the tournament decider, in Valencia in 2009, the Spanish national anthem was booed by fans from both sides.
There have been claims, though, from the likes of Barcelona defender Dani Alves, that Madrid simply do not want to host the final because of the intense rivalry which exists between the two teams.
Former Madrid president Calderon is certainly of the opinion that the whole affair does not reflect well on the club.
"The fact Madrid will not give their stadium for the final makes them a small club," the club's former president opined during an interview with COM Radio.
Calderon also rubbished the suggestion that coach Jose Mourinho is behind Madrid's stance, insisting that president Florentino Perez is the man to blame.
"Not letting the final be played in the Bernabeu is a snub to the royal house and to the king," he claimed.
"And Florentino Perez is the one who does not want it to be played in Chamartin; Mourinho has nothing to do with it."
Madrid are currently 10 points clear of Barcelona at the top of La Liga and have the chance to extend their lead when they host Racing on Saturday.
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