Real Madrid president Florentino Perez has resigned, the Spanish first-division club confirmed on Monday.
Real Madrid Television said his resignation was accepted at an extraordinary meeting of the board, though an earlier report by radio station Cadena Ser said club directors had been trying to convince him to stay.
”Real Madrid needs change and this is the right moment for me to leave the presidency,” Perez said at a press conference. ”I am convinced this is the boost the club needs.”
The board unanimously named Fernando Martin, formerly a club vice-president, as Perez’s replacement.
His resignation comes after a poor week for the club in losing 2-1 at Real Mallorca on Sunday and then 1-0 at home to Arsenal in the Champions League the previous Tuesday.
He arrived at the helm of the club in July 2000 and heralded the ”galactico” era by buying stars such as Portugal’s Luis Figo, Frenchman Zinedine Zidane, Brazilian Ronaldo and England captain David Beckham.
During Perez’s reign, Madrid won the Spanish league and Spanish Super Cup double in both 2001 and 2003, with a superb 2002 sandwiched in between when Madrid won the European Champions League, the European Super Cup and the Intercontinental Cup. — Sapa-AFP