Florentino Perez, the President of Real Madrid, has announced that he will initiate a referendum concerning the club’s ownership structure should he win the upcoming club elections. Currently, Real Madrid is owned by its members. However, Perez intends to propose a transition to a shareholder-based model.
Following earlier indications of a potential model change to safeguard Real Madrid’s interests in 2024, Perez elaborated last year on his plan to convert current members into shareholders. This would involve selling approximately 5% of the club’s shares. While the stated aim is to protect the club and ensure it remains the property of its members, the proposed change, which could generate significant revenue, also raises questions about the potential influence of private, profit-driven interests.
Florentino Perez Confirms Referendum Plan
In an interview with El Pais, Perez confirmed that if he secures a mandate from the club’s members in the elections, with Enrique Riquelme being his sole opponent, he will promptly call for a referendum on the current ownership model. Given the historical significance of Real Madrid belonging to its members since its foundation, any alteration would require majority approval.
When questioned about the possibility of selling further shares, Perez stated, “Whatever the members want, and always by referendum. But this 5% wonโt be making decisions. You could say that it would be more about image, associating with a brand like Real Madrid. But it will be the 95% and the members that will continue to be in charge. I wonโt die until I ensure the clubโs patrimony belongs to the members.”
He further added, “Someone who comes in, who has no money, who secures a line of credit to buy Madrid, that wonโt happen. The other candidacy (Riquelme) is a syndicate of interests, the ones that went to the General Assemblies and voted without being members. Immediately after the elections, I want to call an assembly of delegate members and do the referendum.”
Perez’s Proposed Share Transfer Mechanism
Perez’s proposal suggests that members would not be permitted to sell their shares but would instead be able to designate a member to whom they could transfer them. This is intended to facilitate inheritance within families. If direct family transfer is not feasible, the shares could be passed to a child of another family member. This provision is designed to prevent Real Madrid from falling under foreign influence.
