Spanish Businessman Decides to Run for Real Madrid Presidency

A Spanish news report revealed that Spanish businessman Enrique Riquelme has decided to run for the presidency of Real Madrid, despite the limited time and the complex procedures imposed by the early call for elections by Florentino Perez.

According to the report, Riquelme will try to prepare his candidacy file in the coming days, even though the laws require him to form a board of directors with at least nine members within just ten days, in addition to providing a financial guarantee equivalent to 15% of the club's budget, approximately 187 million euros.

Riquelme is legally eligible to run in the elections, as he has more than 20 years of membership in the royal club. He also belongs to a well-known Madrid family, with his father having previously served on the board of former president Ramón Calderón.

On his part, journalist Jose Felix Diaz confirmed that if Riquelme does not officially run, the appointment of Jose Mourinho as the new coach of Real Madrid could be announced on May 25 or 26.

The report added that holding the elections effectively will delay the announcement of Mourinho by an additional two weeks, as the administrative situation within the royal club is awaited to be resolved.