Enrique Richelme Seeks International Bank to Run for Real Madrid President. Enrique Richelme is in talks with Andbank and Scotiabank for a bank guarantee to participate in the Real Madrid presidential elections. Spanish banks have refused to support his candidacy. This decision could impact the course of the campaign.
The race for the presidency of Real Madrid has reached a new level: entrepreneur Enrique Riquelme has been forced to seek support outside Spain. After the country's largest banks, including Banco Santander and BBVA, refused to provide him with the €187 million bank guarantee required for official candidacy, Riquelme began urgent talks with Andorra's Andbank and Canada's Scotiabank. Both banks are listed in the Bank of Spain's register, which allows them to serve as guarantors under the club's charter.
Previously, Riquelme had stated that the issue with the guarantee was resolved, but in recent days, the situation changed. According to market sources, some Spanish banks were unofficially ready to support his project, but ultimately refused under pressure from the circle of incumbent president Florentino Pérez. As a result, the candidate was forced to seek alternatives among international financial institutions. It is known that Scotiabank had already worked with the Cox Group, headed by Riquelme, during the purchase of Iberdrola México assets worth $4 billion.
Riquelme has officially notified the club's electoral committee of his intention to run and stated that he meets all requirements: years of club membership, Spanish citizenship, and a bank guarantee for 15% of the budget. He must now submit the complete set of documents within the prescribed timeframe. If the committee confirms that he meets all criteria, Riquelme will be able to run against Florentino Pérez in the election.
In an interview after the Cox shareholders' meeting in Seville, Riquelme emphasized that his team is working on a "serious and professional" candidacy, which, in his words, should restore the club’s lost values. He noted that the final decision on his nomination will be made in the coming hours, and the main goal is to create an innovative program capable of inspiring fans and delivering quick results.
When asked about possible major transfers, Riquelme declined to name names but stressed that "the best must play for Real Madrid," and that the club is obliged to create the conditions to attract world-class talent. He also assured that managing Cox and potentially working at the club would not be a problem, as he trusts his management team.
The situation with obtaining a bank guarantee to participate in the elections highlights just how high the financial requirements are for candidates for the presidency of Real Madrid. According to the club's charter, the deposit must be 15% of the annual budget, which makes the process accessible to only a few. By contrast, such requirements are rare in other European clubs. In Spain, the issue of financial guarantees and transparency in sports is regularly debated, and recent initiatives by the authorities in Andorra to regulate new business sectors, as was the case with OnlyFans (more on the new laws in Andorra), show that financial oversight is becoming increasingly strict not only in sports but in other spheres as well.
Enrique Riquelme, who owns 75% of the Cox group, estimates his net worth at over 600 million euros. His experience with international banks and major deals could play a key role in obtaining the required guarantee. The final decision on his participation in the elections will depend on whether he manages to complete all the paperwork and receive approval from the club's electoral commission on time.
