MADRID -- Real Madrid will hold presidential elections for the first time in 20 years after the club's electoral commission accepted businessman Enrique Riquelme's candidacy to face Florentino Pérez.
Pérez, 79, called elections earlier this month, looking for a show of support from club members, after a difficult season that saw the team fail to win a major trophy for the second year in a row.
Riquelme had announced on Thursday that he intended to stand, and then formally submitted his candidacy on Saturday, in person at Madrid's Valdebebas offices.
"It's an important day for Real Madrid, after 20 years, we'll be able to vote," Riquelme told journalists. "It isn't a candidacy against anyone. It's in favour of Madrid. We have an exciting project ... I'd ask the members not to be afraid."
In Madrid's last five electoral cycles -- in 2009, 2013, 2017, 2021 and 2025 -- Pérez was elected unopposed, with no need for a vote.
The club's electoral commission must now set a date within two weeks for members to cast their votes.
Madrid beat Athletic Club 4-2 in their last game of the LaLiga season on Saturday, with both Pérez and Riquelme attending the match at the Bernabéu.
Earlier, Pérez's campaign had unveiled a large banner on a residential building near the stadium, listing the seven cities in which Madrid have won the Champions League under his stewardship, with the slogan "A lot of history to make. Florentino 2026."
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Madrid ended the LaLiga season in second place, eight points behind champions Barcelona. Coach Álvaro Arbeloa -- who replaced Xabi Alonso in January -- has already confirmed that he'll be leaving.
ESPN has reported that José Mourinho has verbally agreed to replace him, although it's not yet clear when his appointment could be made official, given the election process.