Florentino Pérez to remain as Real Madrid president after overwhelming election win

• Enrique Riquelme loses challenge against Pérez

• José Mourinho will now be confirmed as manager

Florentino Pérez will continue as president of Real Madrid after winning their first elections in 20 years, paving the way for his plans to sell 5% of the club.

Pérez, who has been president for 23 years across two spells – first between 2000 and 2006 and then since 2009, winning the last five elections unopposed.

The 37-year-old challenger, Enrique Riquelme, lost the vote after 75,219 members exercised their right to vote.

The results were held up after Riquelme challenged the validity of around 1,000 postal votes, of which over 400 were eventually struck off.

The victory means that José Mourinho should be formally announced as manager on Monday, with Madrid paying Benfica a €15m (£13m) release fee for the Portuguese coach.

Pérez had also promised to make a bid of “at least €150m” on Tuesday for an unnamed “galactico” understood to be Michael Olise.

Riquelme said he would appoint Raúl González Blanco as his sporting director and he would attempt to convince Jürgen Klopp to come as coach.

He also said he was confident of signing Erling Haaland and Rodri.