Perez beats Riquelme in closely watched Madrid presidential race

Florentino Perez secured another four years in charge of Real Madrid early Monday, overcoming the club’s first competitive presidential election in two decades after facing a strong challenge from a rival who opposed his vision for the club’s ownership model.

The 79-year-old Spanish construction magnate was declared the winner by Real Madrid TV, while challenger Enrique Riquelme, a renewable energy entrepreneur, conceded defeat more than an hour before the official results were announced.

According to the club’s final count, Perez secured 65% of the vote, with Riquelme receiving 35% from the 33,555 members who cast ballots Sunday at Real Madrid’s Valdebebas training complex on the outskirts of Madrid.

“I would like to congratulate Florentino Perez’s campaign on its victory. Real Madrid will not go another 20 years without an election,” Riquelme told reporters.

Perez called the election on May 12 despite having two years remaining on his mandate, following a second straight season without silverware for the 15-time European champions and with archrivals Barcelona retaining their La Liga title.

He described the result as “extraordinary” in a victory speech at a hotel in the Spanish capital and said Real Madrid had “set an example to the world of transparency and harmony.”

“This has been a great day for Real Madrid. We have won across the board, across all age groups. And we have achieved the second-best result in the history of Real Madrid elections,” Perez said.

Perez first became Real Madrid president in 2000 and has renewed his mandate five times since 2009 by running unopposed. The club had not held a formal presidential vote since 2006, when Ramón Calderón won by a narrow margin.

In the build-up to Sunday’s vote, Perez promised to appoint Benfica manager Jose Mourinho and said he would spend 150 million euros on an unnamed player to be revealed on Tuesday, a fee that would represent a club record.

He also said defenders Ibrahima Konate and Denzel Dumfries would be his first signings if elected.

Benfica acknowledged Perez’s interest in Mourinho in a statement to Portugal’s CMVM market regulator, saying any move to appoint the Portuguese coach would require a 15 million euro payment to terminate his contract.

Riquelme had tried to unseat Perez with pledges to sign Manchester City pair Erling Haaland and Rodri, while pitching himself as the candidate who would bring members closer to a club he said had drifted away from them.

He promised to turn Valdebebas into a social hub featuring a hotel, swimming pools, a gym and a 15,000-capacity arena for Real Madrid’s basketball team that could also host concerts.

His campaign also targeted Perez’s proposal, raised last November, to create a subsidiary that would allow outside investors to buy a stake of around 5% in the club. Riquelme said he “vehemently rejects” the plan and accused Perez of wanting to “privatise the club.”

Perez has said Real Madrid’s member-owned model would remain intact and that membership would have “a real and tangible value.” Any change to the club’s statutes would require approval at an extraordinary general meeting.

Real Madrid posted 2024-25 revenue of 1.19 billion euros and are valued by Forbes at $6.75 billion, the highest in world football.

DAILYSABAH