Who is Enrique Riquelme? The businessman who could threaten Florentino Perez's throne at Real Madrid
Enrique Riquelme Vives, founder of Cox Group, could snatch the presidency of Real Madrid from Florentino Pérez in the next elections.
The president of the COX Group, Enrique Riquelme Vives, during a gala event
Moments of change at Real Madrid. The nefarious season, both on and off the field, that the most successful team in the history of European soccer had led to an early election for its presidency. The president of the institution, Florentino Pérez, announced this news in a controversial press conference.
These elections, with no official date scheduled for the moment, could mark a turning point in the history of Real Madrid. They could represent the end of Perez after more than two decades, across two different stages, holding the institution's highest position of responsibility.
Although it is not yet known when the elections will be held, the dates set for the presentation of candidacies are known: May 14 through May 26. Perez is the only candidate so far who has confirmed he is running. However, other names have emerged as possible contenders for the presidency. The most-talked about is Enrique Riquelme Vives.
Enrique Riquelme: Trajectory, Cox Group and success in Latin America
Born in the province of Alicante on the east coast of Spain in 1989, this 37-year-old businessman dedicated to the construction and renewable energy sector has jumped into the media spotlight after suggesting he is studying the possibility of challenging Perez for the presidency of Real Madrid.
Changes made:
During his professional career, Riquelme has been closely linked to Latin America. In 2012, he created Grupo El Sol, determined to do important works in several countries in the region, such as Guatemala and Panama, and in precise locations such as the Panama Canal.
Two years later, Riquelme founded Cox Energy, a company focused on solar photovoltaic and water desalination development with projects in Chile, Panama, El Salvador, Mexico and Colombia, as well as in Brazil, Spain, the United States and Portugal.
He subsequently integrated Cox Energy into a parent company called Cox Group. Forbes listed him in "The 100 Most Creative Spaniards in Business" and dedicated a cover to him in 2018, when Riquelme was 29 years old.
Does Riquelme meet the requirements to preside Real Madrid?
Enrique Riquelme's link to the club is not opportunistic; it is a matter of heritage and passion. His father, Enrique Riquelme de la Torre, was a director during the Ramón Calderón era. In addition, he has been a fan-owner of Real Madrid for more than 20 years.
According to the Real Madrid statutes, Riquelme meets the requirements to run:
- Be Spanish.
- Be of legal age and have full capacity to act.
- Be up to date in fulfilling social duties.
- To be a fan-owner of Real Madrid with at least 20 years of uninterrupted seniority in the case of the chairman.
- Not be subject to a sanction that disqualifies him/her from holding managerial positions.
- Not hold managerial positions on other teams, nor be in active service as a player, referee, coach or manager of a club at the time of being proclaimed as a candidate.
In addition, he can provide a guarantee corresponding to 15% of Real Madrid's budget, as required by the club. Thanks to the financial muscle of the Cox Group, Riquelme appears to be in a position to present such a guarantee, something that has historically held back other potential rivals to Perez. At this time, it is estimated that any candidate would have to present about $200 million.
If confirmed as a contender and if he wins the election, Riquelme would represent a generational sea change at Real Madrid, bringing an end to an era at European soccer's top club.
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