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After the Madrid council expressed distrust on Wednesday, Fernando Martin resigned from his position as president of the Royal Club.
"The council unanimously decided that new presidential elections should be held," said Real representative Enrique Sanchez at a press conference. "They also agreed to Martin's resignation so that he could participate in the elections."
Club director and the most senior member of the club's board, 83-year-old Luis Gomez-Montejano, will temporarily assume the duties of president.
It is worth mentioning that this was the first real council meeting after F. Martin became president of Real in February, following his resignation from the post by Florentino Perez.
Since then, F. Martin has been under constant pressure from both club representatives and fans to announce early presidential elections, although according to the club's statutes, he had the right to hold the position until 2008.
Although the official date for the new presidential elections has not been announced yet, the Spanish media speculate that they could take place on June 4.
Currently, Real Madrid, who are in third place in the Spanish championship for the third season in a row, will finish the season without any titles, marking the worst result for the Royal Club in over 50 years.
