Nadal a new figurehead and Al-Gharari behind the scenes: Perez weaves the threads of Real Madrid's future

Florentino Pérez is already planning for Real Madrid's next chapter. The Spanish club's president wants to secure the survival of his administrative project long after he steps down, and Spanish tennis legend Rafael Nadal has emerged as a potential candidate to take over the presidency in the future. At the same time, Pérez is strengthening the hand of a group of figures close to him within the club's power structure.

His plan goes beyond the boardroom. Pérez is also working on an institutional restructuring of Real Madrid designed to inject financial liquidity of up to one billion euros, all while protecting the club's independence and stopping short of turning it into a sporting joint-stock company.

Catalan newspaper "Sport", citing Spanish outlet "El Periódico", reported that Pérez called the decision to bring Nadal onto Real Madrid's board on 4 November a "brilliant move", a nod to both the timing and the impact of the step on the club's future. The appointment of the former tennis star will be ratified at the general assembly scheduled for 21 November.

According to the paper, Nadal's arrival on the board deals a blow to the ambitions of businessman Enrique Riquelme. He took 35% of the votes in the last elections and had hoped to challenge Pérez for the presidency. The Real Madrid president, though, is grooming a successor he trusts to carry his vision forward over the long term.

To run for the presidency, Nadal must first meet the condition of 20 years' Real Madrid membership, something he will achieve in 2031, a year after Pérez's new term ends. Any electoral list must also lodge a bank guarantee of no less than 15% of the club's expenditure budget.

As the centres of influence are reshuffled, one name stands out among those closest to Pérez: Moroccan Anas Laghrari. He has played a key role in strategic and financial matters, above all the redevelopment of the Santiago Bernabéu stadium. Bernd Reichart, meanwhile, has taken a prominent role running commercial affairs, from global sponsorships to the exploitation of the stadium and other commercial activities, under the supervision of general director José Ángel Sánchez.

The report also flagged the growing presence of Pérez's own family inside the club's inner circle. Among them is his grandson Eduardo Pérez Ortiz, who works in investments and strategic operations, alongside his son Florentino Junior and his brother Enrique, vice-president of the board.

Financially, the centrepiece of Pérez's plans is the institutional restructuring of Real Madrid. The club would sell a minority stake to financial investors for one billion euros, without handing them control or converting into a sporting joint-stock company. "Sixth Street" and parties linked to billionaire Bernard Arnault have been floated among the potential investors.

Pérez had promised to hold an extraordinary general assembly to discuss the project, yet that step has not happened. The 21 November assembly is expected to centre on Nadal's appointment rather than the restructuring, and that is causing unease among some members.

Real Madrid, meanwhile, have landed a financial windfall. The Madrid city council admitted an error in the reclassification of the sports city's land, lifting the profits tied to the matter from 1.46 million euros to 98.6 million euros.