A prominent renewable energy executive announced Saturday his intention to seek the presidency of Real Madrid, marking the first significant challenge in more than 20 years to current president Florentino Perez’s leadership of the world’s wealthiest soccer organization.
Perez, age 79, announced new elections on May 12 despite having two years remaining in his current term. The decision came after Real Madrid completed a second consecutive season without winning any major trophies, while their longtime rivals Barcelona successfully defended their LaLiga championship.
The challenger, Enrique Riquelme, established Cox Energy in 2014, focusing on solar power development across Europe and Latin America. His company has secured major contracts in Chile, Mexico, and Spain, overseeing more than 1.2 gigawatts worth of energy projects in Spain through its subsidiary Ibox Energy.
Cox Energy completed one of its most significant transactions in 2025 when it purchased Iberdrola’s Mexican operations for $4.2 billion, including assumed debt.
In a public letter dated May 13 addressed to Perez, who leads the civil engineering firm ACS Group in addition to his Real Madrid role, Riquelme argued that the club should adopt more democratic election procedures. He stated that the strongest institutions are those that successfully blend “experience and renewal, past and future.”
