Real Madrid president Florentino Perez has made an election promise of 150 million euros

Real Madrid is wholly owned by members who appoint its president. Each pays an annual fee of around £130 and around 100,000 of them will vote on Sunday

After his first selection in 2000, Perez followed the ‘Galacticos’ policy of signing expensive world-class players including Luis Figo, David Beckham and Zinedine Zidane.

Real Madrid won two La Liga titles and a Champions League before Perez resigned in 2006 amid disappointing results.

In 2009, he successfully ran unopposed for the presidency again and did so four more times during his 17-year second term.

Real Madrid finished the 2025-26 season without a major trophy for the second straight season, eight points behind La Liga champions Barcelona.

As the season ended, Pérez called a press conference where he railed against the club’s enemies and urged those dissatisfied with his leadership to run against him for president.

The renewable energy magnate stepped in to recall, leaving Perez to compete with another candidate to retain his role for the first time in 20 years.

On Wednesday, Perez promised voters he would launch a Galacticos-style transfer bid days after he hopes to be re-elected.

“I have some news for you,” he told Spanish TV show Horizonte.

“On Tuesday or so, I am going to make an offer to a big Champions League club for a great player. It will be the biggest transfer fee in the history of Real Madrid.”

Perez was asked the identity of his target and the scale of remuneration.

“Olis is a great player but it’s not Olis,” Perez said. “Don’t document it.

“We are going to make a significant offer, at least about 150m.

“He has to be a player in midfield who can go forward. And that’s not Haaland.

“The player is not from the Premier League. And the first thing we will do is talk to the club.

“It’s a signing that’s meant to create excitement because that’s what creates excitement.”

He reminded voters that his re-election would activate deals already agreed for manager Jose Mourinho, Inter Milan defenders Denzel Dumfries and Ibrahim Konat, whose Contract with Liverpool will not be renewed.