Real Madrid President Florentino Perez has confirmed that he will call a referendum on the ownership model at the club if he is victorious in the club elections next Sunday. Los Blancos are currently owned by the club’s members, but Perez is proposing a change of model to convert them into shareholders.
After hinting at a change of model ‘to protect Real Madrid’s interests’ in 2024, last year Perez explained that the plan was to convert the current members into shareholders, and sell a percentage of the club’s shares amounting to around 5%. Beyond ‘protecting the club’, and ensuring that Real Madrid remain property of their members, Perez has not given motives for the change, which would likely bring in hundreds of millions in sale, but also add private interest into the club set on making profit.
Florentino Perez confirms referendum
During an interview with El Pais, Perez confirmed that if he was given a mandate by the club’s members in the elections, with Enrique Riquelme his only competitor, then he would be immediately calling a referendum on the club’s current ownership model. Given the magnitude of the change – Real Madrid has belonged to its members since its inception – it would have to be approved by a majority.
Asked if further shares could be sold, Perez had the following response.
“Whatever the members want, and always by referendum. But this 5% won’t 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 won’t die until I ensure the club’s patrimony belongs to the members.”
“Someone who comes in, who has no money, who secures a line of credit to buy Madrid, that won’t 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 suggestion for passing on shares
Perez’s proposal is that members would not be able to share their sales, but instead would be able to be able to elect a member to which they would pass the shares onto. This would in theory be a family member, but if this was not possible, they would be able to select the child of another family member. This was done to avoid Real Madrid coming under foreign influence.
