Enrique Riquelme files candidacy for Real Madrid presidency

Enrique Riquelme, a Spanish renewable energy entrepreneur, formally submitted his candidacy on Saturday to run for the presidency of Real Madrid, presenting the first contested election in more than two decades for the world's richest soccer club. The club's electoral commission must now verify his documentation and schedule a vote, expected to take place around two weeks later.

The election was triggered on May 12, when longtime president Florentino Perez, 79, called for a vote despite having two years remaining on his mandate. The move followed a second consecutive season in which Real Madrid failed to win a major trophy, with archrivals Barcelona retaining the La Liga title. Perez has been president since 2000, with a brief resignation in 2006, and has been elected unopposed in every cycle since his return in 2009.

Riquelme, 37, is the founder of Cox Energy, a solar power company that operates significant energy projects in Europe and Latin America, including the acquisition of Iberdrola's assets in Mexico for $4.2 billion in 2025. He declared his intention to run with a statement at the club's training facilities in Madrid, saying, "It's an important day for Real Madrid,...