Current Real Madrid president Florentino Perez has received approval to run for another term at the helm of the biggest Spanish club.
According to the newspaper Marca , the Real Madrid Electoral Board has officially approved and declared Florentino Perez’s presidential candidacy as fully valid.
At a meeting Saturday morning, the board unanimously confirmed that Perez has strictly met all the necessary requirements to run for the position.
The main point is that the incumbent president is not required to present any bank guarantees or multi-million euro financial support to secure his candidacy.
This specific exemption is legally granted under the strict provisions of Article 40.C.5 of Real Madrid’s current social statutes.
Perez’s representatives officially presented the required documentation, including his detailed election program, to the board on Friday afternoon.
The long-serving executive is now officially seeking his eighth general term, having successfully run unopposed during the previous election cycle.
Meanwhile, challenger Enrique Riquelme has negotiated large bank loans to secure the €187 million special guarantee needed for his campaign.
