Spain

Perez To Become Real Madrid President On June 1 - Report

The former president looks as though he will be reinstated after the league finishes this weekend...

May 26, 2009 3:46:35 PM

Florentino Perez quits as Real Madrid president (AFP)

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Florentino Perez quits as Real Madrid president (AFP)

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Florentino Perez is set to become Real Madrid president on June 1, as the only other candidate is unable to provide the bank guarantees, according to AS.

Reports state that Eduardo Garcia is unable to lodge the €57.4 million guarantee which is needed to run for president.

The fee is 15 per cent of the club's budget and the rules stipulate that it must be presented before the deadline date of May 31.

If Garcia is unable to put forward the amount necessary, then Perez, as he will be the only candidate remaining, will be sworn in on June 1.

The news comes just days after another candidate, Juan Onieva, pulled out of the elections, saying that his project had not been well received.

Certainly, along with the normal problems expected during elections, there is also the Perez-factor; with polls suggesting he would cruise to an easy victory if the voting took place.

Such is the strength of the campaign of the former president that it would be no surprise if it did have an impact on potential candidates.

Whatever the reasons though, if Perez does come into power on June 1 then he will have more time to act during the summer and will arrive just as the league seasons around Europe finish.

It is thought that he will bring both Jorge Valdano and Zinedine Zidane with him to the Bernabeu.

James Walker-Roberts, Goal.com