Sergio Ramos had been backed to fill in the gap left by the departure of Real Madrid star player Cristiano Ronaldo.
However, after the Spanish giants were beaten by Atletico in the Super Cup final, it looks like some may have overestimated the player, or underestimated Ronaldo's importance for the side.
Ramos has definitely been keen to take on responsibility, shown by his eagerness to take a penalty on Wednesday.
"It is [his opportunity to step up] but Bale wanted it [the penalty] and Benzema wanted it and I still think those penalties should be for attackers," Hargreaves said on BT Sport.
"They need the confidence, they need the goals, you're not going to win a Champions League with Ramos getting you 25 goals."
"You need Bale to get you 25, Benzema to get you 25 and someone like Isco to chip in."
The former Manchester United player still believes that Madrid need to bring in some fresh talent before the market closes.
"All of a sudden they look like they're lacking a bit of depth, the subs that came on were quite young."
"The Atletico Madrid team looked like they had more depth somehow... for Real Madrid, losing Zidane and Ronaldo in one summer is quite remarkable."
"Can they save the summer and add a big star? A [Eden] Hazard type or a [Robert] Lewandowski type would help. I think they need another piece."