Real Madrid look set for their first presidential elections in 20 years in the coming weeks, but there could be a late twist in Enrique Riquelme’s intention to run. The Spanish businessman has written to the electoral board declaring an intention to run against Florentino Perez, but still has to put the finances for his candidacy together.
Perez called shock elections last week, putting the process in motion, and setting Saturday as the end date for other candidates to present their candidacy. Riquelme, who was indirectly challenged by Perez in the press conference where he called the elections is one of the few people that meets the requirements of being a Real Madrid member for the past 20 years, Spanish and able to put up a bank guarantee of 15% of the budget, in this case €187m.
Spanish banks reject Riquelme for bank guarantee
At least in theory. Riquelme has a significant financial portfolio, but as per El Pais, the Bank of Spain have rejected his bank guarantee application. That is also the case for BBVA and Santander, with neither bank explaining their decision. Riquelme is now negotiating with Canadian bank Scotiabank and Andorran entity Andbank in order to put the guarantee together. The guarantee must be provided by a Spanish financial institution, and Andbank have a headquarters in Spain.
Florentino Perez allegedly pressures Spanish banks
It was also been claimed by Vozpopuli that the reason for the rejection of Riquelme’s application is none other than rival Perez. He is the head of Spain’s biggest construction company ACS, who have extensive dealings with BBVA and Santander, and they allege that the close circle around Perez have pressured Spain’s banks not to work with Riquelme.
The latter has until Saturday night to present his guarantee, and the electoral committee will then validate or reject his candidacy on Sunday. If it is approved, elections will be called within the following two weeks.
