Real Madrid president, team's management resign
(Xinhua)
Updated: 2004-06-12 10:37

The President of the Real Madrid Florentino Perez and all his directive board resigned Friday and requested the authorization to hold presidential elections by the representative members, who acclaimed him in the extraordinary general assembly held in the Raimundo Saporta pavilion.

The assembly was also a farewell celebration for Jorge Valdano, the general sport director for the last four years. Florentino Perez said with affection near the end of the act that "he has been a very beloved person by the Madridism and by me, who is not please with his leaving the position of general sport director."

The assembly had only one point to touch on: the authorization to summon presidential elections in an electoral process due to end on July 11.

As the president resigned, the club will not be ruled by a managing board till the elections are held or, if there is only one candidate, the president is appointed by acclamation.

On Saturday, June 12 the electoral board will announce the elections and the presentation of the candidacies, that must be presented before June 28. A day after this date, the list of candidates will be posted and the electoral campaign opened, which will last till July 11.

Despite a splendent lineup, Real Madrid finished the season without a prize and just fourth in the Spanish league.

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