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On Monday evening, according to the Spanish radio station "Onda Cero," Florentino Perez submitted a resignation statement as the President of Real Madrid at an extraordinary meeting of the board of directors. This happened a day after the Royal club lost 2-1 to the Spanish league's underdogs, Mallorca.
"I decided to convene an urgent meeting of the board of directors today, as I believe that the club needs changes," commented F.Perez. "Therefore, I have decided to resign from the position of President of Real."
Fernando Martin Alvarez, who had previously led the club's youth academy, was appointed as the interim president of the club. According to F.Perez's official statement, Alvarez's appointment as interim president was unanimously approved.
F.Perez, who had held the highest position in the club, became the President of Real Madrid in the summer of the year 2000 after winning the elections. In 2004, he was re-elected for a second term with an absolute majority of votes.
In recent years, F.Perez has often been criticized for his transfer policy known as the "Galacticos," where the club would acquire stars not necessarily in good form but with high marketing value.
During F.Perez's tenure, which will turn 59 on March 8, Real Madrid won the Spanish league twice (in 2001 and 2003), UEFA Champions League in 2002, the UEFA Super Cup, and the Intercontinental Cup in 2002, as well as the Spanish Super Cup in 2001 and 2003.
This year, Real Madrid is aiming to avoid finishing without any trophies for the third consecutive year, as they were eliminated from the Copa del Rey, lost the first leg of the UEFA Champions League round of 16 to Arsenal, and are trailing Barcelona by ten points in the Spanish league standings.
