Real Madrid this season will participate in at least 7 different competitions, the Champions League and La Liga are certainly their main priorities. We can easily see the reason, their weekly expenses are quite large, by winning the two competitions, Real Madrid can operate the club and maintain its existence as a dominant team every season.
Ancelotti has the most ideal squad at the moment, which can make his job easier, besides that the current Real Madrid squad is a dream for every manager.
... they are some kinda strong team though, they figure their sh*t out and if they don't they get to enjoy seven competitions atleast 
but I know they will atleast finish the season with at least one or two trophies.