MADRID – Florentino Pérez, president of Real Madrid, asked the entity’s board to start the process of calling for elections, according to the entity published in a statement on Thursday morning.
“The President, after hearing the Board of Directors held today, and in accordance with article 38 section b of the Real Madrid CF bylaws, has requested the Electoral Board to initiate the procedure for calling elections to President and Board of Directors”, Real Madrid reported on its website.
With this request, and according to the current statutes of Madrid, the Board will assess various dates for the call for elections in the event that another candidate is presented.
Four years ago, in 2017, Florentino called elections but had no need to go to the polls as he was the only candidate. The same happened in 2013, when the current president was re-elected without any kind of competition.
It remains to be seen if that situation will reproduce again in 2021. In recent months, businessmen Enrique Riquelme or former President Vicente Boluda have sounded as possible candidates. In fact, Boluda was the last president of the entity before Florentino Pérez took over the reins of the white entity in 2009.
The problem of the possible candidates are the conditions to be able to appear to president of the Madrid. According to the statutes of the entity, apart from being Spanish, being of legal age and being up-to-date in their tax obligations, the club requires that candidates have been members of Real Madrid for at least 20 years and provide a bank guarantee in the terms and conditions “established by Law 10/1990 (15% of the last approved budget) and other applicable provisions.” This means that the guarantee to be presented could be around almost 60 million euros.
The businessman Vicente Boluda, who was interim president between January and May 2009, told Radio Marca this week that he has not yet decided whether to run, but made it clear that it is not the time to call elections since, thanks to pandemic, “the economic situation of the club must be a drama”.