Enrique Riquelme Officially Files Papers for Real Madrid Presidential Elections. For the first time in 20 years, Real Madrid may hold presidential elections. Enrique Riquelme has submitted the necessary documents and secured a bank guarantee. The club's electoral commission will decide on his eligibility.
A rare intrigue for Spanish football has unfolded in Madrid: entrepreneur Enrique Riquelme has officially submitted his candidacy for the presidency of Real Madrid. The documents were delivered to the club’s office in Valdebebas on Saturday evening, after Riquelme secured the required bank guarantee of €193.7 million—15% of the club’s annual budget, as stipulated by the club’s charter rules.
The electoral commission must review and approve the documents by the end of Sunday. If the application is accepted, the club will hold its first full presidential elections since 2006. The current Real Madrid president, Florentino Pérez, has already been approved as a candidate, and now the fate of the vote depends on the commission’s decision. The election date will be set next Monday, and the vote itself must take place by June 9.
The preparation process for submitting the documents proved challenging for Riquelme. Spanish banks Santander and BBVA, despite previous business relations with his company Cox, refused to provide the bank guarantee. As a result, the entrepreneur had to turn to Andbank, registered in Spain, and involve international institutions, including Scotiabank of Canada, to certify his assets. The main collateral is Riquelme’s stake in Cox, valued at roughly €700 million.
At the same time, Florentino Pérez launched his campaign with a symbolic gesture: a giant banner appeared on the façade of a building next to the Santiago Bernabéu stadium, listing the cities where the club had won the Champions League under his leadership. Pérez did not need to provide a bank guarantee, as his management team had accumulated sufficient capital growth over the years, exceeding the required amount.
Riquelme, arriving at the club’s office in jeans, a T-shirt, and a scarf, emphasized that his project was not aimed against anyone, but was created for the future of Real Madrid. He called on the club members not to fear change and to carefully consider the alternative program. His arrival was closely watched by the press and fans, marking the unofficial start of his campaign.
As previously reported by RUSSPAIN, Riquelme encountered difficulties in finding an international bank to obtain a guarantee — more details are available in the article about negotiations with Andbank and Scotiabank.
For reference: Real Madrid is one of the few major European clubs whose president is elected by direct vote of the members. The last competitive elections were held in 2006. According to the club’s statutes, a candidate must have been a member for at least 20 years and provide a bank guarantee covering 15% of the club’s budget. If both applications are approved, the club will face an electoral contest rare in recent decades.
