At the Extraordinary General Assembly, which was held at the Real Madrid City basketball pavilion, Amancio Amaro was unanimously elected to be the the honorary president of Real Madrid. The Representative Members gave the Real Madrid legend a standing ovation.

Florentino Pérez paid tribute to Gento and praised Amancio: "On 18 January this year, we bid farewell to one of the great legends of Real Madrid. Our honorary president, Francisco Gento, the winner of six European Cups, who had replaced the greatest footballer of all time, Alfredo Di Stéfano, left us".

"In view of all that he has achieved in the Real Madrid shirt, for what he represents in the history of our club and for the transmission of our values throughout his professional career, I propose Amancio Amaro as the new honorary president of Real Madrid".