Enrique Riquelme interview on his Real Madrid: ‘A new manager, and two signings already agreed’

Two weeks ago, Enrique Riquelme was a virtual unknown among Real Madrid fans.

The 37-year-old businessman has built his career in the renewable energy sector, where he founded Cox Energy, and his only previous connection to the Spanish club was as a member and fan.

Madrid president Florentino Perez’s dramatic press conference on May 12 changed all that. The 79-year-old suddenly called a surprise election for his role, stating multiple times that he wanted rivals “moving in the shadows” to come forward and stand against him.

Perez, who had an active mandate until 2029 and has not had to face a vote during his second period as president (he returned to power at the Bernabeu in 2009, having also served from 2000-2006), did not name Riquelme directly.

Instead he spoke of a person “with a Mexican accent” who “talks with electricity companies” and was behind “a very organised campaign” to oppose him.

Perez’s veiled descriptions were enough for close observers of Real Madrid’s politics to understand he was referring to Riquelme, who has significant business interests in Mexico but is actually from Cox, a small town in the Spanish province of Alicante.

In 2021, Riquelme gave several interviews to Spanish media in which he hinted at intentions to one day run for the Madrid presidency, but he did not stand that year, nor in January 2025 — when Perez was re-elected as the only candidate for a fifth time in a row.

Now, he has accepted Perez’s challenge. On Sunday, Madrid’s electoral board confirmed he has met the strict criteria required of candidates — including proving personal wealth of at least €187million (£161.5m; $217.5m) — and the club’s membership of around 100,000 is now braced to vote on who should lead them, for the first time since 2006. On Tuesday evening, a date for the vote was confirmed: June 7.

Here, in his first English-language media interview since announcing his decision to stand, Riquelme speaks with The Athletic about his plans for the Real Madrid presidency.

The conversation has been lightly edited for clarity and length.

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The Athletic: Perez essentially challenged you to step forward and run.

Enrique Riquelme: And I did. He also said there would be a debate, yet no debate has happened.

TA: Have you been told that there won’t be a debate?

Riquelme: Nobody has informed me whether there will be or not. You should ask him (Perez).

TA: Perez also referred to you in a way that surprised some people, mentioning your “Mexican or South American accent”. Do you think he was being dismissive?

Riquelme: (Laughs) Well, generationally, we are worlds apart. At my age, Florentino had not yet started as a businessman, so perhaps it is difficult for him to fully assess or understand that side of my profile. Back then, I believe he was still serving on Madrid’s city council before eventually building an outstanding business career later on.

TA: Were you originally planning to stand after Perez stepping down?

Riquelme: I was not planning to launch a candidacy in the short term. My timeline was 2028, not now. This came as a surprise to me.

But events accelerated. That immediately forced us into position. Florentino openly said that if anyone wanted elections, they should present a candidacy. He knew perfectly well that the timeframe was only five business days.

We did not make the final decision until the very end because we wanted to be certain that we were putting forward a serious and competitive project, particularly regarding the financial guarantee. But from day one we were confident we had the backing required. What we also knew, was that it was not going to be made easy for us.

TA: Who or what was not going to make it easy?

Riquelme: Because the entire system is designed that way. The reality is that there has not been a candidacy in 20 years. Are we really supposed to believe that not a single Madridista has wanted to become president of Real Madrid during that time?

What makes this candidacy exciting is that Real Madrid has not had a genuine election in 20 years. Ours is a respectful and professional candidacy, one that respects the club’s DNA and seeks to reconnect with the essence of Real Madrid, while also recognising the legacy that already exists.

Florentino Perez clearly believes privatisation is the best path forward. But my question is: Why? Why should Real Madrid stop belonging to its members? Is the club really in such poor financial condition that this is necessary? I understand the financial side of football very well, and I firmly believe Real Madrid can remain member-owned while continuing to compete at the highest level.

TA: Privatisation, as you call it, refers to plans to explore changes to Madrid’s ownership rules which would allow external investment for the first time. Would you refuse to change the club’s member-owned structure?

Riquelme: I am completely against privatisation because I do not believe it is necessary. What exactly does the member gain from privatising the club?

In reality, privatisation is being used as an excuse to justify changing the statutes. Why is the privatisation of the club, as well as the Super League and many other matters, being handled by someone who is very close to him (Perez), someone who has recently become a member by bypassing every possible waiting list? Why is there someone with so much power alongside the president who holds no official position, and who is also involved in most of the club’s operations?

TA: What would you improve for the members?

Riquelme: Tomorrow (Wednesday) at noon we will present a full package of proposals focused on improving the member experience. There are many things we believe can and should change.

Right now, Real Madrid is losing around €80million a year, and that shortfall is being offset through extraordinary revenue streams such as the sale of VIP seating. One-off sales, exceptional transactions — every season there is something. We criticise Barcelona for using “financial levers,” but these are also levers.

Of course, the situations are different, and Real Madrid is in a far stronger position than Barcelona, without question, but there is still a risk. If Real Madrid stops reaching the Champions League quarter-finals every season, the financial impact becomes much more serious.

One thing I can promise with absolute certainty is that I would never apply this idea of privatising the club, because it is simply unnecessary. Real Madrid could reduce costs directly by €130million to €140m without any problem.

Take Real Madrid TV, for example. Its operating costs are far beyond what would be considered normal for the audience share it generates, despite the fact that the club already has the internal capacity to produce its own content far more efficiently.

There are also extremely high executive salaries and non-sporting payroll expenses. We are talking about dozens of non-sporting employees earning more than €1million a year. There are countless areas where costs could be reduced without touching the sporting side of the club.

And beyond reducing costs, there are also many opportunities to improve revenues in a healthier and more sustainable way.

TA: What exactly are your plans for the sporting side?

Riquelme: We are working on a very clear project. We will begin speaking publicly about the sporting side once we have fully presented the social and member-focused side of the candidacy.

TA: But surely the first thing members want to ask you is which players or coaches you plan to bring in?

Riquelme: Honestly, that is not what members ask me about most. I spend my days talking to socios and supporters’ groups, sitting with them, listening to their concerns and trying to understand what they actually want from the club.

And I would say that 80 or 90 percent of those conversations revolve around member-related issues, because they feel abandoned after 20 years without significant attention being paid to them.

The Negreira case is a prime example of the downward spiral the club has been experiencing in recent times. For two long years, the club was aware of the case and did nothing, when it should have been leading the charge in bringing the case to light.

Riquelme would not be drawn on further details behind his sporting plans for Madrid (Angel Martinez/Getty Images)

TA: Would Jose Mourinho be an option as your coach?

Riquelme: I cannot comment on someone when I do not even know whether he is actually involved or not (with Perez). My project is a different one entirely, so those questions should be directed to whoever is speaking with him.

TA: Can you give any details at all about the sporting side?

Riquelme: We are going to appoint a coach who fits a long-term project. Members are going to feel very proud of the profile we bring to Real Madrid. This is a project designed to generate excitement from day one, but also to create a truly professional structure with hierarchy, organisation and real management capacity.

TA: Has this person worked at Real Madrid before?

Riquelme: No. Real Madrid cannot continue operating with short-term thinking. This is a moment for a genuine change of cycle. Of course, everything that has been achieved so far deserves recognition, but our proposal is about building a project for the short, medium and long term under a different model of professionalisation and modernisation.

TA: Is Jurgen Klopp a real possibility? (In a promotional video advertising his campaign, Riquelme said to a colleague off camera: “If Klopp or (Erling) Haaland call, you pick up the phone.”)

Riquelme: We are looking at profiles among the very best coaches in world football — people with the level of experience and leadership required to manage a club like Real Madrid. Naturally, I would love for profiles of that calibre, and others like them, to coach this club.

TA: But specifically, is Klopp an option?

Riquelme: I cannot say whether he is or is not at this stage. The sporting professionals currently working within the project are handling those discussions, and I cannot share more than that right now. We will see in the coming days.

TA: So there is already a sporting director involved?

Riquelme: Work is already under way on the sporting structure and the broader professionalisation of the club. But I cannot reveal names yet.

TA: You mentioned in an earlier interview, with ABC, that two signings are already completed…

Riquelme: Two signings are already finalised, and several others are being worked on under the same sporting direction and within the same professional structure.

TA: Isn’t it unusual to have two signings finalised without officially naming a sporting director or a coach?

Riquelme: I am not saying those people do not exist. I am simply choosing not to announce them yet because, for now, I want the focus to remain on the social and institutional side of the project. The sporting side will come afterwards.

Riquelme said he would be revealing further details at an event at 12.30pm local time in Madrid on Wednesday (Pierre-Philippe Marcou/AFP via Getty Images)

TA: If you don’t win, would you plan to stand again on the strength of this process?

Riquelme: Right now, the only thing on our minds is this project. This is not a project based on one single individual making every decision. Quite the opposite — it is about professionalisation across many different areas of the club. So at this moment, I am not thinking about anything other than winning.

This process comes with a huge personal and professional cost, and we are here to win now. I did not enter this race, commit nearly €200million of my own personal wealth, and expose myself in the way I have simply to take part. What would be the point of that?

I think my professional career speaks for itself. I am 37 years old and I lead a global company with 5,000 employees operating in 37 countries and generating €4billion in revenue, where I serve as founder and executive chairman. If there is one thing people should understand about me, it is that I do not enter projects just to participate.