MADRID, May 19 (Xinhua) -- The question surrounding Real Madrid this week is no longer why club president Florentino Perez called surprise elections, but whether the vote will actually take place.
Perez caught many observers off guard last week when he announced presidential elections despite having secured a four-year mandate in January 2025 after running unopposed.
The 79-year-old has not faced an opponent since returning to power in 2009, winning the club's last five elections uncontested.
Part of the reason lies in Perez's continued support among large sections of the club's membership, but the demanding requirements imposed on presidential candidates have also discouraged challengers.
Anyone wishing to run for the presidency must be Spanish, have been a club member for at least 20 years and, crucially, provide a bank guarantee worth 15 percent of the club's annual budget.
That requirement currently amounts to around 215 million U.S. dollars, a figure well beyond the reach of most supporters.
However, Perez's latest move could yet produce an opponent in the form of Enrique Riquelme, executive president of the multinational Cox Energy Group.
Riquelme, 37, said on Monday that he was prepared to meet the financial conditions needed to stand.
"Of course I have the bank guarantee, I wouldn't be speaking about it if I didn't have it," he said, adding that "there will be news in two or three days."
According to Spanish media reports, Riquelme's company specializes in renewable energy and employs around 15,000 people across 30 countries and regions.
Time is running short for any challenger. Candidates must formally present their candidacy by May 23. If no rival emerges, Perez will automatically be re-elected the following day.
Should Riquelme decide to run, club members would vote on June 7, leaving Perez's potential challenger with limited time to build a campaign and outline an alternative vision for the club.
Still, some observers have begun to question whether Perez should remain in charge for another four-year term following what many viewed as a tense and combative press conference last week. ■
