A surprise decision from Pérez regarding Real Madrid's future

Legal complications delay the resolution

Real Madrid are putting the finishing touches to their upcoming general assembly of members, scheduled for the morning of Saturday 21 November to coincide with the team's match against Celta Vigo.

This assembly marks the first meeting to bring together president Florentino Pérez and his board with the member representatives since his victory in the elections last June.

According to the Spanish newspaper "AS", the agenda will not include any discussion of amending the club's statutes, a move aimed at changing its legal form should the board decide to press ahead.

Real Madrid's officials are working out the best way to implement this fundamental change, based on the principles Florentino Pérez announced at last year's general assembly. He wants to shield the club from external and internal attacks on its assets, and to ensure around 100,000 members are recognised as its true owners.

Legal complications and the fallout from a change of this magnitude have persuaded the board to hold off. So far they have put no proposal before the member representatives for debate or a vote.

Pérez had announced, in a speech dedicated to the matter after the meeting's routine items had been dealt with, that he would call an extraordinary general assembly at the appropriate time to discuss the proposal and vote on it.

He explained that the initiative, once it had secured initial approval from the member representatives, would also need ratifying through a referendum involving every member of the club.

The agenda will, in line with the usual procedures, include a vote to approve last season's financial accounts. The club recorded record revenues of 1.221 billion euros.

That makes it the third straight time Real Madrid's revenues have broken the one billion euro barrier, an achievement that reflects the club's relentless financial growth.