Real Madrid Set for First Presidential Election in Two Decades

Riquelme challenges Perez for Real Madrid Presidency after 20 years‎

‎Riquelme secured a €187.2m bank guarantee to meet Real Madrid’s candidacy rules. The election follows a trophyless season and Barcelona’s LaLiga win.

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‎Renewables businessman Riquelme submits candidacy for Real Madrid presidency. The club will review his bid and set the election date on Sunday...

Renewables businessman Enrique Riquelme announced on Saturday that he will run for the presidency of Real Madrid. His candidacy marks the first challenge to Florentino Perez’s control of the world’s richest club in over 20 years.

“We are facing a historical moment in Real Madrid's history: for the first time in 20 years, the Real Madrid fans will be able to vote and choose their next president,” Riquelme said.

“We are confident in the amazing project we will propose for the ‌future of the club, and I urge the fans to listen to us kindly and give us ‌a chance to build a better future for our great club.”

Riquelme went to the club’s facilities in Valdebebas, northeast of Madrid city centre, to submit his paperwork in person.

Real Madrid’s Electoral Commission will review his documents on Sunday. If they are approved, his candidacy will be confirmed and the election date will be set. The vote is expected to take place on June 7th.

On May 12th, 79-year-old Perez called an election even though he still had two years remaining on his mandate. The decision came after Real Madrid went a second consecutive season without winning a trophy. The record 15-time European champions also saw arch-rivals Barcelona retain the LaLiga title.

Real Madrid’s season was also overshadowed by internal conflict between players and the sudden dismissal of manager Xabi Alonso.

The presidential race already seemed to be gathering momentum before Riquelme officially entered.

Perez unveiled a large banner on a building in central Madrid showing the seven Champions League titles won during his presidency, with the slogan “So much history yet to be made.”

Minutes of the Meeting of the Electoral Board of Real Madrid.

— Real Madrid C.F. 🇬🇧🇺🇸 (@realmadriden) May 23, 2026

Riquelme told the Real Madrid board on Thursday that he intended to run. Under the club’s electoral rules, he had until Saturday to make his decision final.

For the 2025/26 season, the required guarantee is 187.2 million euros. That figure is based on Real Madrid’s record budget of 1.248 billion euros.

According to a source familiar with the matter, Riquelme obtained the guarantee through Andbank, which is based in Catalonia.

Perez has an estimated fortune of $6.8 billion from his role as president of construction group ACS, according to Forbes. He has led Real Madrid across two spells since 2000, when he defeated Lorenzo Sanz in the election.

He returned unopposed in 2009 and has since won five consecutive elections without facing a challenger.

⚽️ Last match of the season: LOADING pic.twitter.com/darhrVKRgF

— Real Madrid C.F. 🇬🇧🇺🇸 (@realmadriden) May 22, 2026

Riquelme founded Cox Energy in 2014 with a focus on solar power across Europe and Latin America. The company has secured major projects in Chile, Mexico, and Spain, and now manages over 1.2 gigawatts of energy projects in Spain through Ibox Energy.

One of Cox’s biggest deals came in 2025 with the $4.2 billion acquisition of Iberdrola’s assets in Mexico, which included debt.

In an open letter to Perez on May 13th, Riquelme said the club needed a more democratic electoral process. Perez is an infrastructure development mogul and CEO of civil engineering firm ACS Group. Riquelme added that the strongest institutions combine “experience and renewal, past and future.”

Riquelme had to meet the strict requirements in Real Madrid’s statutes, which were tightened during Perez’s time as president. Candidates must be Spanish, have been club members for at least 20 years, and provide a personal bank guarantee equal to 15% of the club’s budget.