Florentino Perez: The absolute power at Real Madrid.

For a quarter of a century, Florentino Perez has transformed Real Madrid into the most successful club of the 21st century, and his power there is unshakeable.

During Perez's two tenures, 2000-2006 and 2009-present, Real has won 65 titles, including 37 in football and 28 in basketball. Most notable among these are seven Champions League titles and three Euro League titles.

Perez first set his sights on the Real Madrid presidency in 1995, challenging incumbent Ramon Mendoza. After a fierce internal battle, the election on 20/2/1995 saw Mendoza narrowly defeat Perez by just 698 votes.

This defeat proved a valuable lesson for Perez. In the 2000 election, he pledged to sign Luis Figo, the Portuguese superstar then playing for arch-rivals Barcelona. This promise became his ticket to the presidency.

On July 11, Perez made a shocking declaration, previously reported by Cadena SER: "If I become president, Figo will be a Real Madrid player. To show my confidence, if I'm elected and Figo doesn't play for Real, I'll pay all membership fees for next season". This amounted to almost 20 million USD.

On 16/7/2000, Perez won the Real Madrid presidency, defeating Lorenzo Sanz by 3,167 votes and ushering in a new, glorious era for the club.

A model of absolute leadership

In August 2023, Real Madrid issued a statement: "Rumors about President Florentino Perez considering resignation are completely false and stem from unfounded sources". This surprised many, as most fans and those connected to the club were unaware of such rumors.

At 78, Perez has faced health issues in recent years. However, no one doubts his commitment to the club. Only failing health seems likely to change his absolute leadership. The prospect of a Real Madrid without Perez at the helm is difficult for many to imagine.

Before Real Madrid, Perez was a construction magnate. Since 1997, he has led Grupo ACS, Spain's largest civil engineering company, which reported 56.18 billion USD in revenue and 1.73 billion USD in profit in 2024.

As president, Perez immediately established an all-powerful model. He orchestrated the signings of galacticos like Zinedine Zidane, Ronaldo Nazario, and David Beckham, while revolutionizing the club's finances by selling the old training ground and expanding global commercial reach. Under Perez, Real Madrid became a true global commercial force.

Under Perez, Real Madrid has consistently attracted the world's top superstars. Photo: Goal

During Perez's first term, there were dissenting voices on the board, such as Ramon Calderon, who became president in 2006 after Perez's sudden resignation, stating the club needed "a new direction".

However, upon his return in 2009, Perez consolidated power. He declared at his inauguration: "I feel I can do almost anything". He wasn't exaggerating. No one on the board could match his charisma or influence. No director dared challenge his decisions. One source even told The Athletic: "When Perez enters a room, 20 people jump up, adjust their chairs, fetch water – they practically beg for his attention".

CEO Jose Angel Sanchez typically implements Perez's decisions. "Florentino decides, Jose Angel executes" is a common description. This model impacts all club decisions, from player transfers to stadium maintenance and marketing.

Unlike other top clubs where senior directors make key decisions, at Real Madrid, everything requires top-level approval, meaning decisions go through Sanchez to Perez. While this can slow down transfers or business deals, Perez stands by his approach.

A lifelong football fan, Perez attended matches at the Bernabeu as a child in the 1950s, during the club's first golden age under President Santiago Bernabeu. Despite consulting various advisors over the years – including former technical secretary Ramon Martinez, football agents Jorge Mendes and Ernesto Bronzetti, and most recently chief scout Juni Calafat – Perez believes he knows best which players to sign. To many, he acts as both president and sporting director.

Unlike Barcelona or Bayern Munich, Real Madrid doesn't prioritize the experience of former players and coaches. Legends like Vicente del Bosque, Fernando Hierro, and Jorge Valdano have been sidelined. Absolute loyalty to Perez is essential for longevity at the club. Former striker and current public relations director Emilio Butragueno described Perez in 2005 as a "supreme being".

Therefore, the Real Madrid manager's job requires both expertise and diplomacy. Perez never fully trusted Julen Lopetegui or Rafa Benitez, and neither lasted long. Zidane's charisma and Champions League triumphs secured his position. Carlo Ancelotti possessed excellent diplomatic skills, but a trophyless season ended his tenure.

Perez shows no leniency, even with the most successful coach in the club's history, Carlo Ancelotti.

Media is another area Perez – who unsuccessfully ran for public office in the 1980s – deems crucial. Real Madrid TV promotes a Madridista perspective, including recent criticism of LaLiga referees. The club also cultivates relationships with sports journalists and the Spanish press.

This media influence aids Real Madrid in its ongoing political battles with LaLiga President Javier Tebas, the only figure in Spanish football with comparable influence to Perez. However, Perez's control has blind spots, evident in the international backlash against the 2021 Super League project. Despite the project's failure, Perez's power at Real Madrid remains unchallenged, even by those who disagree with his policies.

Unopposed in elections

Historically, Real Madrid presidential elections have been contested. After Perez's 2006 resignation, Calderon narrowly won a controversial election among five candidates. When Perez returned in 2009, he ran unopposed. He has been re-elected unopposed in 2013, 2017, and 2021.

Changes to club statutes in 2012 further solidified Perez's reign. Presidential candidates now need 20 years of club membership (up from 15) and must provide a bank guarantee worth 15% of the club's annual budget. Only Spanish citizens can run.

Perez defends these measures as necessary to protect Real Madrid from outsiders. "No one should be allowed to sweet-talk their way into control", he stated in 2012. "I don't want to think badly of anyone, whether they are Arab or Russian billionaires, but this is our internal matter".

At annual general meetings, opposition to Perez is rare. Member representatives are chosen through a process he controls. Some members have challenged these statutes in court, but their complaints have been dismissed. In 2018, 92% of member representatives approved a 718 million USD loan for the Bernabeu renovation. In 2021, they approved an additional 266 million USD loan with 1,562 votes in favor and only 16 against.

Real Madrid's success, especially in the Champions League, reinforces Perez's absolute authority.

With Real Madrid's annual budget constantly increasing – reaching 1.38 billion USD in revenue in the 2024 fiscal year, a 10% increase – the deposit to run for president now exceeds 200 million USD and will likely rise further. While Spanish law allows the entire board to jointly guarantee this amount (as Barcelona President Joan Laporta did), Real Madrid's internal rules require the candidate to provide the full sum.

Some argue that the club's success over the past decade, including five Champions League titles, validates Perez's strong leadership. They contrast this with Barcelona's recent turmoil, suggesting that excessive democracy can be risky, leading to short-term decisions that jeopardize the club's future.

Succeeding Perez seems an impossible task. The Real Madrid presidency has become a one-man job, raising concerns about the club's future. Fans fear a decline similar to Manchester United post-Sir Alex Ferguson or AC Milan post-Silvio Berlusconi. Some even believe, "When Florentino leaves, Real Madrid will be like an orphan, not knowing what to do".

Sources told The Athletic that "Perez's life is Real Madrid", that he's a "workaholic" and "the club is what keeps him going", especially since his wife, Pitina, passed away in 3/2012. While less visible than before, Perez remains involved in all key decisions, regularly visiting the Valdebebas training ground to discuss club matters with Sanchez.

Regardless of the future, it's currently impossible to imagine anyone replacing Florentino Perez. Succession planning seems an afterthought. Florentino Perez is Real Madrid, and it seems likely to remain that way.

Compiled by Hoang Thong