Real Madrid has officially opened its presidential electoral process after current president Florentino Perez announced his decision to seek another term in office.

The club said candidates have until May 23 to submit their applications for the election.

Under the club’s rules, candidates must have been members of Real Madrid for at least 20 years and provide a financial guarantee of €187 million, equivalent to 15 percent of the club’s annual budget, backed by personal assets.

Perez, 79, confirmed during a press conference on Tuesday that he would contest the election after being re-elected unopposed in January 2025 for another four-year term.

Spanish media reports indicate that Enrique Riquelme, president of energy and water company