Mega-rich businessman 'ready' to challenge Florentino Perez and win Real Madrid presidential election

A mega-rich businessman is reportedly ready to challenge Florentino Perez in the Real Madrid presidential election.

During an explosive press conference on Tuesday afternoon, presidential incumbent Perez confirmed he had asked the Real Madrid board to schedule a new election, despite being re-elected unopposed only in January 2025.

"I have asked the Board to initiate the electoral process for the elections to the Board of Directors, in which the current Board of Directors will participate," he stated.

"If someone does want to stand for election, this is your opportunity. But don't move in the shadows with publications, news outlets."

Read more: Florentino Perez launches into lengthy rant during emergency press conference

Perez has been president of Real Madrid for 23 years since 2000 - he resigned in 2006 before being re-elected in 2009 - and has overseen a remarkable period of success on the pitch for Los Blancos.

The 79-year-old has not been challenged by another candidate since his second term began - partially because few have been able to raise the funds required to run for the presidency.

That might be about to change this time around.

Enrique Riquelme, an Alicante businessman who is president of Spanish-based global water and energy company Grupo Cox, is 'ready' to run for election, according to MARCA.

Enrique Riquelme could be Perez's biggest rival in the Real Madrid presidential race (Image: Getty)

It is said that he has not been 'caught by surprise' by Perez's sudden announcement on Tuesday.

Fellow Spanish outlet El Confidencial, meanwhile, report that Riquelme has already secured the amount of funding needed to enter the presidential race, and that his team includes the former Real Madrid goalkeeper Iker Casillas.

Riquelme is claimed to have been present at an event attended by club members back in April, though no further details on the exact nature of that event have been revealed.

Who can challenge Florentino Perez to become Real Madrid president?

Unlike at other clubs, a presidential candidate must fulfil a series of strict criteria, stated in Real's official statutes, in order to enter the elections process.

They must guarantee a sum of around 15 per cent of Real's current budget. According to AS, that figure stands at around €189 million, and must be a collective agreement between the presidential candidate and the board of directors.

A bank guarantee must be provided 'under the terms established by Spanish law and the club statutes', and the bank must 'certify that the guarantee is based solely on the personal wealth of the candidates themselves'.

They must also have held club membership for a 20-year period before they are eligible to run.

The candidate also must be Spanish - Perez caused controversy when he referred to a candidate, presumed to be Riquelme, as speaking with a 'funny accent... South American, or Mexican' in his press conference - and must not be actively working in any role for another club at the time they submit their candidacy.