Businessman Enrique Riquelme, president of Grupo Cox, said on Monday he has secured the required bank guarantee to run for Real Madrid presidency and will make a final decision in the next two or three days.
Riquelme has negotiated with BBVA and Banco Santander to secure a 187 million euro guarantee to contest the elections. Both banks have shown willingness to support his bid, although only one bank will issue the final guarantee.
The deadline for submitting candidacies is Saturday, 23 May. Club statutes require candidates to notify the electoral board 48 hours in advance, making Thursday 21 a potential key date.
Uncertainty over Riquelme’s participation has indirectly affected other club plans. The possible replacement of coach Álvaro Arbeloa by José Mourinho could be postponed until the elections are resolved, which in the latest scenario would take place on 9 June.
