Real Madrid presidential candidate Enrique Riquelme reportedly wants to appoint Mikel Arteta as the club's new manager if he is elected later this month.

Florentino Perez announced the shock presidential elections last month in a risky power play following two seasons without a major trophy.

The 79-year-old challenged any pretenders to try to take him on, with renewable energy entrepreneur Enrique Riquelme ready to do battle for the top job. It is the first time in over 20 years that Perez will face a challenger for the club presidency position.

Real Madrid's 100,000-strong socio fanbase is set to head to the polls at the end of the week, with the election date scheduled for Sunday 7 June. Perez turned down Riquelme’s challenge to a debate, with both candidates set to canvas support from fans this week.

It is widely believed that if Perez wins the election, then an agreement is already in place for former manager Jose Mourinho to return to the club. Riquelme has also claimed that a deal has been agreed in principle for his preferred managerial candidate, though he has not named who that would be.

Initial reports linked former Liverpool boss Jurgen Klopp with the vacancy, while Spanish outlet Ok Diario speculates whether it might actually be Arsenal manager Arteta who is lined up for the role. They claim Riquelme would love to team up with the Spaniard and suggest he might be tempted to leave North London after he delivered the Premier League title.

Speaking last week, Riquelme stated he had already 'finalised a coaching deal' before he announced his run for presidency and added that the candidate who is currently 'under contract with another team'.

When asked specifically if he meant Klopp, the 37-year-old stated: "We are looking at profiles among the very best coaches in world football—people with the level of experience and leadership required to manage a club like Real Madrid. Naturally, I would love for profiles of that caliber, and others like them, to coach this club.

“I cannot say whether [Klopp] is or is not [an option] at this stage. The sporting professionals currently working within the project are handling those discussions, and I cannot share more than that right now. We will see in the coming days.”

He later added: "Obviously, he’s someone I’d love to see coaching Real Madrid, sooner or later.”

Real Madrid presidential candidate announces he has secured two major signings

Riquelme also claimed that he had already agreed to two transfers should he win the presidency, with a priority to sign a Spain international after no Real Madrid stars were selected for the nation's World Cup squad.

“If I’m president, there will be a Real Madrid player who has played in the World Cup for Spain,” he said.

“No Real Madrid player will play at the World Cup for Spain, and I, as a Madridista, am devastated. It hurts me. Who will the children of Madridistas, or the Madridistas themselves, or the club members support? What jersey will they wear to the World Cup? Lamine Yamal’s. I mean, I really hope we can solve that if I’m president.”