Fresh off his highly anticipated presidential re-election earlier this month, Florentino Pérez has immediately moved to execute the most structurally significant—and intensely debated—policy of his modern governance. Real Madrid have officially completed the first legal steps toward rewriting their historical 124-year-old institutional framework.
As uncovered in mercantile registry filings surfaced by The Objective and ES Diario, the club has quietly established a specialized commercial vehicle designed to handle external investment and future share division: Real Madrid Madridistas SL.
The company, which was birthed via the legal transformation and renaming of an inactive shell entity known as Velvet Alma SL, lists its sole shareholder as Real Madrid Club de Fútbol. The lone registered administrator is none other than José Ángel Sánchez, the club’s longtime General Manager and right-hand strategist to Pérez.
Operating directly out of the Santiago Bernabéu corporate offices, the holding arm is explicitly designed to allow direct or indirect participation in the management and creation of secondary enterprises—effectively serving as the platform for Pérez’s planned member-shareholder model.
The Safeguard Strategy: Why Pérez Wants to Break the Mold
To the casual observer, changing the structure of the world’s most financially dominant football club seems completely unnecessary. However, Pérez has mounted an aggressive defense of the shift, framing it as an absolute necessity to insulate the institution from future corporate raiders, state-backed entities, and domestic regulatory overreach.
- From Sentimental to Legal: Under the current model, the 100,000 socios (members) own Real Madrid entirely in an emotional and democratic sense, but hold zero individual economic equity. Pérez wants to legally transform members into actual asset shareholders, giving their ownership tangible monetary value that can be legally inherited by children and grandchildren.
- The Valuation Anchor: By selling a minor 5% to 10% stake in this newly created corporate subsidiary to a highly vetted private firm or brand alliance, Real Madrid will establish an official, indisputable market valuation—expected to float around €10 billion. Pérez argues that locking in this astronomical market baseline prevents future rogue boards from driving the club into artificial debt and buying it out for pennies on the dollar.
- The Financial Influx: A minor carve-out sale of this scale is calculated to instantly inject hundreds of millions of euros directly into Real Madrid’s liquid accounts, creating an unmatched sporting war chest to combat state-funded projects without sacrificing club governance.
The Battle Lines: Riquelme and Detractors Raise Alarm
Despite Pérez’s absolute insistence that the 95% majority stake retained by members ensures that external entities will “never call the shots,” the strategy has polarized the Madridista community.
The Opposition Manifesto: Former presidential challenger Enrique Riquelme and a vocal contingent of delegate members have openly warned that opening this door introduces an un-closable vulnerability. Critics argue that allowing foreign investment funds a seat at the table—even an advisory one without primary voting capabilities—gives external entities undue corporate influence and paves the legal pathway for eventual full-scale privatization.
The Path to the Referendum: What Happens Next?
Despite the swift corporate incorporation of Real Madrid Madridistas SL, the administration cannot legally execute the asset split or distribute shares without a direct mandate from the absolute mass of the club’s membership.
Pérez is bound by strict legal and internal statutes to present the fine print of the operational blueprint to a General Assembly of compromisario delegates over the coming months.
Once approved at the executive level, the initiative will move to a binding, club-wide member referendum. While an official calendar date remains pending, administrative circles close to the Bernabéu indicate the historic vote is highly targeted to occur before the conclusion of 2026.
RMxtra Verdict: The Ultimate Corporate Legacy
Florentino Pérez has already rebuilt our stadium into a futuristic entertainment colosseum and completely reshaped our modern squad dynamics. Now, at 79 years old, he is looking to cement his final, defining legacy: ensuring Real Madrid remains structurally untouchable long after his presidency concludes.
It is a high-stakes chess move that behaves exactly like a corporate IPO without ever floating on the actual stock market. If the socios back his vision later this year, Real Madrid will step into an entirely unprecedented financial dimension.