As of October 2020, the Manager of CF Rayo Majadahonda was Julian Calero, a retired footballer who played as midfielder on seven different teams during his senior career.
On 1 July of the following year, he took over CF Rayo Majadahonda, freshly relegated from Segunda Division. On 3 March 2020, he was dismissed as the club were six points off the playoffs. On 13 June 2018, Calero joined Hierro at the Spain national team, being named assistant. 
