Perez promises 'major investment' if he wins Real Madrid presidency

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Florentino Perez, the man who turned Real Madrid from an old-fashioned soccer club into a star-studded global marketing project, announced today that he will run for president in this summer's election.

Perez will present himself for the club's 14 June vote with the intention of returning glory to the club three years after quitting his post.

"Conviction and hope lead to great projects and grand history," Perez told a packed press conference in the Spanish capital. "You can be assured that we're working on a spectacular project."

Perez led Madrid between 2000-06, when the club won two league and one Champions League trophies in the "galactico" era that featured high-priced stars like Zinedine Zidane, David Beckham and Ronaldo.

Perez's pledge each season was that the world's best would play for Madrid.

But he quit his post after the club's worst trophy drought for over 50 years when it went three seasons without silverware, shuffling through five coaches in over that time.

Perez, who said he made a mistake in stepping down, said global stars like Cristiano Ronaldo and Kaka always interested him, but did not reveal any signings. He did hint that a return to the galactico days awaited, however.

"We need to make a major investment, probably what we would do in two or three years," Perez said. "We can't sustain this situation even one minute more."

Perez is the favorite to win after Ramon Calderon resigned amid a vote-rigging scandal that the 62-year-old construction magnate believes has done terrible damage to the Spanish powerhouse's reputation.

Calderon guided Madrid to two straight league titles before his January departure following the scandal.

"In the past few years, Real Madrid has been seen and understood in a way that doesn't correspond to who we are," Perez said. "It's urgent and vital we lay the model foundations for the organization, and be ready to repulse any irresponsible or irregular acts that we may experience, as we have in recent times."