Madrid is one of only four clubs in Spain owned by their members; club to vote new president on Sunday
Real Madrid’s presidential candidate Enrique Riquelme has accused Florentino Perez of crossing a line by proposing to sell a minority stake at the club to an outside investor.
Club members will vote on Sunday, 7 June to choose between Perez and Riquelme. The first is the 79-year-old incumbent who has led Madrid since 2009, while the challenger is a 37-year-old businessman.
The contest is the first presidential election at the club since 2006, after Perez was went uncontested in 2009, 2013, 2017, 2021 and 2025.
Perez plans to allow an external investor to acquire up to 5% of the club, arguing that some limited outside investment would help the club continue to compete while preserving the control enjoyed by club members.
“If someone buys the smallest part, say 5%, that will simply help fix a value [of the club overall],” Perez said.
“We’ll continue being a members’ club, but we would create a subsidiary, owned by the members. We’ll allow 5% for a partner, if someone is willing to invest a significant amount, for a symbolic participation. Those investors should always respect our values.”
Riquelme responded that the proposal is a blatant departure from Madrid’s traditional structure. He announced that he would formally commit to rejecting any future sale of club ownership and challenged Perez to do the same.
“Florentino Perez has crossed a red line,” Riquelme said. “I’m announcing that this week I’ll go to a notary to put in writing, in public, that I would never sell any part of Real Madrid to a third party, and I invite Florentino Perez to accompany me.”
Riquelme argued that Madrid could increase revenues and reduce costs without opening the door to outside investment, adding that “the Florentino Perez of 20 years ago would never have been open to a sale”.
Real Madrid remain one of only four clubs in Spain, alongside Barcelona, Athletic Club and Osasuna, that continue to be owned by their members rather than investors.
