| 5. Round | 03/01/1932 | FC Barcelona | - | Racing Santander | 4:2 | ||||
| 7. Round | 17/01/1932 | Donostia FC | - | Racing Santander | 1:5 | ||||
| 8. Round | 24/01/1932 | Racing Santander | - | Real Madrid | 0:0 | ||||
| 9. Round | 31/01/1932 | Athletic Club | - | Racing Santander | 3:2 | ||||
| 10. Round | 07/02/1932 | Racing Santander | - | CD Alavés | 1:1 | ||||
| 11. Round | 16/02/1932 | Espanyol Barcelona | - | Racing Santander | 6:1 |
Spain