A Heated Debate on Real Madrid's Ownership Model
The recent edition of the programme The First Palo, broadcast by esRadio, has brought to the forefront a crucial discussion for the future of Real Madrid. Amid a tense atmosphere following the disturbances in Paris, which have affected peripheral areas like Saint-Denis, the focus has shifted to the strategic decisions facing the white club.
The president of Real Madrid, Florentino Pérez, has expressed his concern over the interference of the Professional Football League (LFP) in the club's management. His stance is clear: protecting institutional heritage is fundamental. However, this statement has sparked controversy, particularly among the presidential candidates.
Enrique Riquelme, one of the candidates, has promised before a notary that he will not sell any part of the club to third parties. He accuses the current board of opening the doors to a covert privatisation, which has intensified the debate on how Real Madrid should be structured in an increasingly competitive environment.
To shed light on this issue, economist Miguel Jaureguizar intervened during the discussion. According to him, the term “privatisation” is used incorrectly; since the club is a private entity. The real dilemma lies in its current ownership model: as a non-profit association, members are not real owners but merely temporary managers.
In Jaureguizar's view, this model is outdated and vulnerable for an institution that generates over 1 billion euros a year. He proposes creating parallel corporate structures that would serve as a legal and financial shield against potential external threats. This could prevent unfavourable regulations from expropriating vital commercial rights for the club.
Despite the current tensions, Pérez's strategy does not contemplate a direct conversion into a Sports Public Limited Company (SAD). Instead, subsidiary companies are being considered under the associative umbrella where valuable assets like Santiago Bernabéu would be included. This tactic would allow for the correct valuation of the club through transparent transactions with minority partners.
Not only is Real Madrid going through difficult times; the financial situation of Sevilla FC was also discussed. The tensions between shareholders and key figures like Sergio Ramos, who has presented economic proposals to help the Andalusian club, reflect a complex landscape in LaLiga.
Closing with a football touch, the possibility of signing international midfielder Rodrigo Hernández was addressed. Although Riquelme presented him as his great electoral promise, no agreements have been signed so far; only coincidences between representatives have fueled rumours about his arrival at the white club.
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