MADRID — Renewable energy entrepreneur Enrique Riquelme has declared his candidacy for the presidency of Real Madrid, marking the first serious challenge in over 20 years to Florentino Pérez’s long-standing leadership of the world’s richest football club.
Pérez, 79, surprised supporters on May 12 by calling fresh elections despite having two years left in his term, following another trophyless season for the 15-time European champions. Rivals Barcelona secured the LaLiga title again, intensifying calls for change at the Bernabéu.
Riquelme is the founder of Cox Energy, launched in 2014 to develop solar projects across Europe and Latin America. The firm oversees more than 1.2 gigawatts of projects in Spain through its Ibox Energy unit and has secured major deals in Chile, Mexico and Spain. In 2025, Cox completed a headline acquisition of Iberdrola’s Mexican assets for $4.2 billion, including debt, representing one of the company’s largest operations.
In an open letter to Pérez on May 13, Riquelme argued that Real Madrid’s electoral system needed greater democratic processes and called for leadership that blends “experience and renewal, past and future,” positioning his bid as a push for institutional reform at the club.