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Is Florentino Pérez about to lose his only rival for the Real Madrid presidency?
The controversial presidential election process at Real Madrid could end without serious opposition for Florentino Pérez.
The controversial presidential election process at Real Madrid could end without serious opposition for Florentino Pérez.
Businessman Enrique Riquelme, who intends to challenge Pérez for control of the club, reportedly encountered his first major financial and administrative obstacle.
The problem facing Enrique Riquelme
According to Spanish newspaper El País, Riquelme failed to secure financial backing from major Spanish banks such as Santander and BBVA for the guarantee required by Real Madrid’s electoral rules.
The candidate must present a €187 million financial guarantee backed by institutions officially registered with the Bank of Spain.
El Confidencial reported that Riquelme found support through banks in Andorra and Canada, but those institutions must also appear in the Bank of Spain registry for the candidacy to be considered valid.
Without that approval, his presidential bid could be rejected automatically.
Riquelme reportedly has until Saturday to submit all required documentation.
Who is Enrique Riquelme?
Enrique Riquelme is a 37-year-old Spanish businessman and founder of Grupo Cox, a multinational company focused on renewable energy and water management.
His ties to sports are well established.
Grupo Cox sponsors projects linked to Rafael Nadal, including:
- Team Rafa in the UIM electric boat championship
- Rafa Nadal Academy Team by Cox in Premier Padel
