Renewables magnate Riquelme launches Real Madrid presidency bid - source
According to a source with knowledge of this matter, Enrique 'Riquelme' informed Real Madrid's Board on Thursday that he intended to run for its presidency. This is the first challenge to Florentino Perez's 'vice-like' grip on the richest soccer team in the world after more than 20 years. Riquelme, founder and CEO of renewable energy firm Cox, told the Real Madrid board on Thursday that he intended to announce his candidacy. The source declined to name him due to the sensitive nature of the issue. According to electoral rules, Riquelme has until Saturday evening to decide whether or not he will proceed with his bid.
Cox's Press Office declined to comment.
Riquelme established Cox Energy in 2014. The company specializes in solar power in Europe, Latin America and Chile. It has won significant projects in Chile Mexico and Spain. Ibox Energy, the company's energy division, manages over 1.2 GW in Spain.
Perez, 79 years old, announced new elections in this month, despite having still two years remaining on his mandate. This was after a turbulent year for the 15-time European champions, which saw no silverware, and marked by fights among the players, and the sudden sacking of Xabi Alono. Real's arch rivals Barcelona won the LaLiga title.
PEREZ RAILED AT MEDIA In a rambling 'press conference' on 12 May to announce the election, Perez railed at the media and the groups he claimed were trying to 'take over?the Club, challenging anyone who would compete against him.
Perez, in an apparent reference towards Riquelme said that "that man" who speaks with the electric companies has a South American Accent and conspires against the club.
Perez continued, "I would like him to be in front of his people and not doing weird things behind the scenes so that we can discuss football without being distracted." Cox acquired Iberdrola assets in Mexico in 2025 for $4.2 billion, including debt.
Riquelme founded Grupo El sol in Panama which focused on mining and cement. It was also the main provider of the project to extend Panama Canal, completed in 2016.
Perez has been president of the club since 2000 when he beat Lorenzo Sanz. He stepped down from the presidency in 2006 and returned to it in 2009 as a sole candidate. Since then, he has won five elections in a row without opposition.
Perez won the support of club members in 2012 for a change to statutes that makes it more difficult for outsiders seize control.
According to his new rules, presidential candidates are required to be club members for a minimum of 20 years. This is up from the previous 10 years. They must also provide a personal?bank guarantee amounting 15% of club budget, rather than relying upon a third party.
Riquelme, in an open letter dated May 13, wrote that he owned a 75% stake in Cox and had enough money to "present himself as a potential candidate" and asked for some time to calmly discuss the future direction of Real Madrid.
"Our club continues to operate within strict deadlines, which are not conducive for the type of participation and dialogue that modern democracies require," Riquelme wrote.
(source: Reuters)
