Energy tycoon Riquelme confirms challenge for Real Madrid presidency

MADRID, May 23 : Renewables tycoon Enrique Riquelme on Saturday confirmed he would be running for the presidency of Real Madrid, presenting the first challenge in more ‌than two decades to Florentino Perez's hold on the world's richest soccer club.

"We are facing a historical moment in Real Madrid's history: for the first time in 20 years, the Real Madrid fans will be able to vote and choose their next president," Riquelme said.

"We are confident in the amazing project we will propose for the future of the club and I urge the fans to listen to us kindly and give us a chance to build a better future for our great club."

Riquelme went in person to present his papers at the club's facilities in Valdebebas, northeast of Madrid city centre.

Real's Electoral Commission will examine his documentation on Sunday and, if it is deemed valid, officially confirm his candidacy and schedule the election, expected to take place on June 7.

On May 12, Perez, 79, called an election ​despite having two years left on his mandate. It followed a second straight season without silverware for the record 15-times European champions. Real's arch-rivals Barcelona retained their LaLiga title.

The season was also marred by fighting amongst Real's players and the abrupt sacking of manager Xabi Alonso.

The presidential campaign appeared to be humming even before Riquelme had formally entered the contest.

Perez unfurled a giant banner on the facade of a building in central Madrid featuring an image of the seven Champions League titles won during his presidency and the slogan: "So much history yet to be made."

Riquelme informed the Real Madrid board on Thursday of his intention to run and, under electoral rules, had until Saturday to make a definitive