Enrique Riquelme

Enrique Riquelme faces a race against time to secure a €187m bank guarantee after major Spanish banks reportedly rejected his application, amid allegations that incumbent Florentino Perez pressured financial institutions to block his rival’s candidacy.

Florentino Perez will face a presidential election at Real Madrid for the first time since 2004, as businessman Enrique Riquelme prepares to end the chief’s two decades of unopposed rule.

Florentino Perez has challenged rivals to stand against him in Real Madrid’s upcoming presidential elections, with energy sector businessman Enrique Riquelme considering a dramatic bid for control of the Spanish giants.