Enrique Riquelme officially informed Real Madrid’s Electoral Board on Thursday of his intention to run for the club presidency.

The businessman from Alicante submitted the required preliminary written notification on Thursday afternoon, completing the first formal step established by the club’s electoral regulations.

Riquelme now has 48 hours to finalize and officially present his candidacy before Saturday, May 24. If the process is completed without setbacks, club elections are expected to take place around June 7.

The 37-year-old would become the first candidate to challenge Florentino Pérez in a presidential election since 2004, when Pérez defeated Lorenzo Sanz and Arturo Baldasano by a wide margin.

According to the report, Riquelme has secured a pre-guarantee worth approximately €190 million, a key requirement to validate his candidacy and potentially position himself as the alternative to Florentino Pérez, who has led the club continuously since returning to office in 2009.

Since the start of his second presidency, Florentino has not faced an opponent in any election at Real Madrid. That situation could now change if Riquelme’s candidacy is officially confirmed on Saturday.

Riquelme’s potential project could also bring major sporting changes to the club. While Florentino Pérez is reportedly pushing for the return of José Mourinho, Riquelme’s camp is focused on Jürgen Klopp as the coach to lead a new era at the Santiago Bernabéu.

Names such as Erling Haaland are also reportedly being discussed as possible signings under the proposed project.

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