3 Oct 2012

Real Madrid president wins backing for new ownership statute

6:14 am on 3 October 2012

Real Madrid president Florentino Perez has won the backing of members for statute changes that will make it harder for outsiders to seize control of the wealthy La Liga club.

The changes, approved at a general assembly in Madrid on Sunday, will mean presidential candidates will have to have been club members for at least 20 years, up from 10 years.

They must also personally provide a guarantee worth 15 percent of the club's budget - around 75 million euros - rather than relying on third party support as has sometimes happened in the past.