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Real Madrid president Florentino Pérez has said he will propose a "corporate reorganisation" of the club, with members to vote on whether a change in ownership structure is necessary to protect its financial assets.
Madrid are one of just four Spanish clubs -- with Barcelona, Athletic Club and Osasuna -- which remain member-owned, and weren't obliged to become public limited companies under a 1990 law.
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In a 90-minute speech to the club's annual assembly, Pérez claimed that a dispute with LaLiga over the CVC investment deal -- which saw other clubs receive a total of €2 billion in exchange for future broadcast income -- and the way the league collectively negotiates TV rights meant that a new structure was needed to guarantee the club's independence.
"We're working on defending ourselves on attacks on our financial wealth," Perez said. "Our club should have a structure which protects us as an institution. We'll do everything necessary so that the club belongs to its members, so that nobody can take away our financial assets.
"I can confirm that we'll bring a corporate reorganisation proposal to an assembly, which guarantees members are real owners of our club. They wanted to take away our income to give it to LaLiga."
Pérez did not give details of what the reorganisation would involve.
"I'll keep you informed, we'll have an assembly to explain it clearly," he said. "You'll understand it perfectly ... I'll give everything so that Madrid's income continues to be Madrid's, Barcelona's continues to be Barcelona's and Athletic Club's continues to be Athletic's. Our club should have a structure to protect us."
The speech also saw Pérez criticize the decision not to hand Vinícius Júnior the 2024 men's Ballon d'Or, reiterate his opposition to UEFA and support for the Super League, and dismiss concerns over lost revenue due to postponed concerts at the new Bernabéu.
"Rodri [Hernández] is a great player, he's from Madrid, and he has our affection," Pérez said. "He deserved a Ballon d'Or, but not this one. He deserved it the year before. This year, the Ballon d'Or should have gone to a Real Madrid player: Vinícius, or our captain Dani Carvajal, or even Jude Bellingham.
"Some of [the voters] didn't even include Vinícius in the top 10. Can anyone understand journalists not thinking Vinícius is one of the best in the world? Nobody knows who [the journalists] are ... The Ballon d'Or should be independently organized, and it should be in the hands of people who are recognized."
In recent years, Pérez has used his speech at the assembly to repeatedly express his opposition to UEFA and the new Champions League format, and insist on the need for radical change in European football.
"We don't want to go down in history like Blockbuster," he said, referring to the once-dominant video rental chain, and comparing it unfavourably with Netflix. "We want to embrace new technology ... There's a real opportunity for a change of direction, to restore football's greatness. This system doesn't work. The moment is critical. It's time to act."
Pérez said the club's decision in September to postpone all planned concerts at the rebuilt Bernabéu stadium after complaints from neighbors over noise levels was a minor issue in terms of its financial impact.
"The organization of concerts isn't especially lucrative for the club," he said. "We only rent out the stadium. The income is around 1% of our annual budget.
"But we understand this activity is important. It means that all the citizens of Madrid benefit [from the stadium]. We're at the disposition of the local authorities."
Source: espn.co.uk