Florentino could face Real Madrid election rival as Enrique Riquelme prepares bid | OneFootball

Enrique Riquelme is preparing a bid for the Real Madrid presidency, positioning himself as a potential challenger to Florentino for the first time since 2000. The Alicante businessman, a member for more than 20 years and president of energy and water firm Cox, moved after Tuesday’s press conference by the incumbent.

According to El Confidencial, Cox partners Alberto Zardoya and Dámaso Quintana are willing to free him partially so he can stand, and have given their approval. Zardoya is heir to the Otis lifts fortune, while Quintana runs Cunext Copper, Spain’s biggest copper company.

Riquelme weighed a 2021 run but stepped back, this time he is intent on standing despite the short call. He received calls on Tuesday from prominent former Real Madrid players urging him to enter.

He recently completed a €3,500 million acquisition of Iberdrola’s assets in Mexico, with backing from Citi, Goldman Sachs, Barclays, Deutsche Bank, Santander, BBVA and Bank of Nova Scotia.

He has been negotiating for months with the same banks over €187 million in guarantees required to register, equal to 15% of the club’s budget. He owns 65% of Cox.

Cox began in 2014 and operates in Mexico, Chile, Panama, Colombia and Spain, focusing on renewables, desalination, reuse and water treatment. It listed in Spain in November 2024 and sponsors Team Rafa, Rafa Nadal’s E1 electric boat team. Riquelme is close to Rafa Nadal, whom Florentino has more than once expressed a desire to make honorary president.

Source: El Periódico Mediterráneo