They want to sell Real Madrid — Presidential candidiate warns members

Renewable energy businessman Enrique Riquelme has warned that Real Madrid's status as a member-owned club is under threat, suggesting that he will challenge incumbent president Florentino Pérez in the upcoming impromptu elections to halt the club's potential privatisation. 

After Florentino Perez called for elections, reports suggested that Riquelme would contest against him. The 37-year-old has now confirmed his intention to submit his candidacy, emphasising that preserving the current ownership model is the core of his potential candidacy. 

"They could be the last elections at Real Madrid because privatisation is coming, or that is what is being announced," Riquelme stated.

"We have an ethical and moral obligation, those of us who do not agree with that privatisation, to ensure that Real Madrid continues to belong to its members and that it has a more special place for those members." 

Real Madrid famously remains one of only a handful of top-tier clubs in the world entirely owned and governed by its socios (registered members). 

Despite openly maintaining immense respect for Pérez's achievements, Riquelme views his intervention as a mandatory defence of the club's heritage, adding, "We have waded into a mess because of an invitation to get involved in something that wasn't for us at that moment, but there is an ethical and moral obligation to take a step forward if possible." 

Riquelme faces a race against time following Pérez's explosive and unexpected decision to bring the elections forward. Originally mapped out for 2028, the abrupt announcement has left the 35-year-old CEO of Cox Energy scrambling to finalise his sporting and financial project before the fast-approaching Saturday deadline. 

"I'm not going to tell you if I'm going today because I don't know; we are working, we have five days, we will work from now until Saturday on preparing the best project," he explained, acknowledging that while the rules are deeply complicated, he has no right to complain. 

Mounting a presidential challenge at the Santiago Bernabéu is notoriously difficult due to the club's stringent candidacy bylaws, which dictate that challengers must be Spanish, boast at least 20 years of continuous club membership, and provide a massive personal bank guarantee worth 15 per cent of the club's annual budget (estimated at over $215 million). 

While Riquelme is one of the very few individuals financially and institutionally capable of meeting these strict requirements, the impromptu notice will test his preparation as he attempts to assemble a viable alternative to Pérez's enduring leadership.