The onetime club chief has criticized the Welsh star and the coach of the team, as he thinks they do not have the right ingredients to be successful.
Calderon feels Bale, a world-record signing from Tottenham, lacks the mental strength to deal with the expectations surrounding los Blancos the way Cristiano Ronaldo has.
"Bale seems to me like the opposite of what 'The Lion King' Ronaldo stands for," the 62-year-old told Tuttosport. "Bale seems psychologically fragile to me, one who suffers. To play for Real, you must have nerves of steel. The pressure is bigger than at any other club in the world."
The ex-CEO also says Madrid's coach Ancelotti, who was brought in from Paris Saint-Germain as a replacement for Jose Mourinho, is not the right man for the job.
"It seems to me that Ancelotti does not have the personality and charisma to lead Real Madrid," he continued. "The team have yet to play a defined, organized and homogeneous football, and they concede too many goals. Among other things, I was surprised when they told me that in the summer he turned just 54. I saw him already close to retirement."