Currency Converter

Enter amount in full numerical value, without currency symbol or commas (ex: 3000000).


SBD Global/April 7, 2014/Franchises

Group Of Real Madrid Members Opposes Club's Increased Presidential Criteria

With the "objective of returning democracy to Real Madrid, a group of 15 members has sued the club," according to EL CONFIDENCIAL. It is "an attempt to overturn one of the latest changes to the club's statutes." A Madrid judge "admitted the suit on Wednesday." The "origin of the suit: the increase in the necessary requisites to run to become president of Real Madrid." The "requirements were increased on two fronts." The "first said that one has to have been a member of the club for 20 years -- instead of 10 -- to be eligible to run for president." The "tenure requirement to run for vice president also increased from five to 15 years." Under the new requirements, "any presidential candidate also must acquire a bank's pre-guarantee" of 15% of the club's budget (currently €84M ($115M)), with the guarantee "having to come from an entity credited in Spain -- loans from foreign creditors would not be valid." The 15 "authors of the suit hope the increased requisites will be reversed because they reduce the number of candidates." Real Madrid President Florentino Perez "did not have a rival in the recent elections because the rest of the candidates did not meet the requirements." If "this members group achieves its objective, Real Madrid will not only have to return the statutes to what they were prior to the reform, but also hold new elections" (EL CONFIDENCIAL, 4/6).
Return to top

Related Topics:

Franchises, Europe

Video Powered By - Castfire CMS Powered By - Sitecore

Report a Bug