Santander, Spain (Sports Network) - Real Madrid had a chance to claim the top spot in La Liga on Saturday, but a 2-1 loss to Racing at Estadio El Sardinero has put a dent in Madrid's title hopes.

After Raul put Madrid on top 1-0 in the 33rd minute, Ezequiel Garay converted a pair of penalty kicks, including the match-winner in the 90th minute, to stun the Spanish giants and keep them stuck in the third spot in the La Liga standings, two points behind league-leaders Barcelona. The Catalan side will have a chance to extend that advantage on Sunday with a home contest against Mallorca, while second-placed Sevilla, who owns a one-point edge on Madrid, visits Valencia.

The two teams played a pretty even first half, with both generating chances but neither being able to convert. In the 33rd minute, a bad giveaway by Garay handed Madrid the opener.

The defender was under pressure inside his own area from Raul, and he tried to find a teammate near the sidelines with a pass. However, Gonzalo Higuain stepped in between the two and intercepted the pass. He then slid a short pass to Raul inside the penalty area, and the skipper drove a low left-footed shot towards goal that slid underneath keeper Tono and into the back of the net.

Racing came out strong in the second half, and were unfortunate to not find the net. However, a controversial penalty-kick call handed Garay a chance for redemption. Mahamadou Diarra made a sliding challenge from behind on Lionel Scaloni inside the box, and although he appeared to get the ball, a penalty kick was awarded. Garay made no mistake with the kick, slotting it low and inside the right post to level the match.

The game seemed destined to end in a draw, but Nikola Zigic drew a foul inside the area in the 90th minute when he was pulled down by Madrid's Fabio Cannavaro. Once again, Garay kept his nerve and struck his kick to the left of keeper Iker Casillas, who got a hand to the ball but could not keep it out.

In Saturday's other contest, Real Sociedad topped Real Betis 1-0 to gain three much needed points in its battle to get out of the relegation zone.

On Sunday, Athletic Bilbao plays host to Espanyol, Levante visits Atletico Madrid and Celta Vigo, two points from safety, host Deportivo La Coruna. Getafe and Villarreal are separated by just one point in the middle of the table and hook up at Coliseum Alfonso Perez, fourth-placed Real Zaragoza visits bottom-feeders Gimnastic while UEFA Cup semifinalist Osasuna tries to get back on track in league play with a home game against Recreativo. League-leaders Barcelona entertain Mallorca and Sevilla and Valencia square off in a battle of top-five teams at Estadio Mestalla.