Florentino Perez took charge for his fourth term as president of Real Madrid in a ceremony at the Bernabeu today after the club confirmed that no one had come forward to challenge him to an election.
Last year, the 66-year-old construction magnate won the backing of members for statute changes that make it harder for outsiders to seize control of the world’s richest football club by income.
A potential presidential candidate has to have been a club member for at least 20 years, up from 10 years previously, and must personally provide a bank guarantee worth 15 per cent of the club’s budget – some 75 million euros – rather than relying on any third party.
One of the first issues he will need to address will be to appoint a new coach after Jose Mourinho and the club agreed a parting of the ways, despite the Portuguese having three years left on his contract.
Paris St Germain’s Carlo Ancelotti and departing Bayern Munich boss Jupp Heynckes have been linked with the post in the local media, but Perez made no reference to new appointments on Tuesday and Heynckes confirmed he was taking a year off.
Real finished the season without winning a major trophy after coming in second behind arch-rivals Barcelona in La Liga, falling in the semi-finals of the Champions League and losing the King’s Cup final to city neighbours Atletico Madrid.
Perez vowed to encourage his club’s improvement.
Perez was president between 2000 and 2006 when he was the architect of the “Galacticos” policy that brought players such as Zinedine Zidane and David Beckham to the Bernabeu, before quitting mid-term.
He returned in 2009, after Ramon Calderon had been forced to step down accused of vote-rigging at a club general assembly.
Real are one of four Spanish top-flight clubs owned by their members, alongside Barcelona, Athletic Bilbao and Pamplona-based Osasuna.
Real Madrid is considered the richest sporting club in world something; Perez says will allow it to achieve victories.