Real Madrid President calls for overhaul of members-based ownership to prevent foreign takeovers

By Andrew Warshaw

September 26 – Real Madrid President Florentino Pérez (pictured) wants to change the statutes of the members-based ownership of the club in order to prevent the kind of foreign takeovers that have affected the English Premier League, the French league and other European countries.

Perez told Real’s annual general meeting that he was concerned a wealthy investor could try and make deals with some members to buy the nine-time European champions.

The Qatar Investment Authority recently agreed to take control of Paris Saint-Germain and Perez wants Real to remain free of the clutches of foreign investors.

“A rich man could come along like in England or France with the support of some members take over the club,” Perez said.

“That’s a concern, of course, and we intend to change the statutes to make sure that doesn’t happen.”

Like archrival Barcelona, Real Madrid is owned by its members who vote in its President and board of directors every four years.

Real has about 90,000 members.

Perez said there are “few risks” from the club’s record $360 million (£232 million/€267 million) pre-season outlay on players.

“A lot of you trust me more on the financial side than the sporting side and I can tell you I won’t let you down,” Perez told some 1,000 members, despite the fact that Real borrowed €151.5 million (£131.3 million/$204 million) from Banco Santander SA and Caja Madrid to acquire the likes of Cristiano Ronaldo and Kaka amid Spain’s worst recession in 60 years.

“For those who criticised us, we see it as natural to see some of the best players in Real Madrid’s white jersey.”

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