According to Marca, Enrique Riquelme has called on Florentino to follow the example of FIFA President Infantino and abandon plans to introduce external capital and privatize parts of Real Madrid's business. He emphasized: "Not everything can be sold."

Riquelme addressed Florentino via his personal social media, hoping that the Real Madrid president would consider Infantino's decision. Previously, Infantino had halted plans to privatize parts of the World Cup business, so Riquelme also hoped that Florentino would "correct course" and stop pushing for similar reforms at Real Madrid.

Riquelme cited a report from the Spanish financial media Expansión, titled "Infantino abandons plan to create a subsidiary to operate the World Cup," and pointed out that FIFA's original vision had a high degree of similarity to Florentino's current reform plan for Real Madrid.

Riquelme wrote on social media: "FIFA knows how to correct mistakes in time..."

He then added: "Some people should take this as an example... Not everything can be sold."

Although Riquelme did not name names directly, it is widely believed that these remarks are clearly directed at Florentino and his core team of advisors. Currently, Florentino's plan to introduce private capital is still moving forward. Although he did not publicly detail the project during the presidential election, as he was aware of the widespread controversy surrounding this issue among Real Madrid members, the club has largely settled on a structural design similar to FIFA's original plan.

Under this plan, Real Madrid will establish a subsidiary, into which the entire football business will be transferred, while Real Madrid club itself will exist as a holding company. This subsidiary will be responsible for managing all major revenue streams except for stadium operations. The operating rights of the Bernabéu stadium were previously transferred to the American investment fund Sixth Street. At the same time, Real Madrid plans to sell 5% to 10% of the shares of the newly formed subsidiary to one or more external investors.

After abandoning the initial idea of directly transforming the club into a commercial company, Florentino knows that this new model must be approved by a member referendum. In principle, he may choose to officially explain this plan to Real Madrid members, who are still the sole owners of the club, on the first weekend of October.

However, internal club surveys and the results of the presidential election have made Florentino concerned that the proposal might face strong opposition, as this plan would have a profound impact on Real Madrid's historical traditions. Although Florentino ultimately won the election with 65% of the votes compared to 35%, in terms of the total number of members with voting rights, he actually only received about 29% support. Therefore, a controversial autumn is approaching.

Florentino is concerned that this plan may be met with strong opposition from members as expected by outsiders. Infantino was forced to halt related projects after strong opposition from all sides to the plan to privatize the World Cup business. Therefore, Florentino's reform plan may also face the risk of being forced to terminate, just like the eventual failure of the European Super League plan.

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