Florentino Pérez has been at the helm of Real Madrid for 22 years. Two decades in which he has built the best era in the history of the white team, surpassing European Cups (7) and total titles (37) of Bernabéu (6 and 33). If something has marked his tenure, it has been decisive decisions on the field and in the offices. The signings of stars and, especially in his second term, the choice of coaches. Now, re-elected president until 2029 and after falling in the Champions League and in the Copa del Rey final against Barça, Pérez faces one of those key summers for the machinery at Chamartín.
In 2003, two days after winning the league and being eliminated in the Champions League semis, he decided not to renew Del Bosque. Queiroz arrived, and Madrid, having up to six coaches in a few years, would only win a Super Cup until his first departure in 2006. That resignation, reflected after having "misbehaved with the players," served him to reinforce the ideas of his second term. He returned in 2009 and repeated the galactic signings but established Madrid on three pillars in the dugout: Mourinho, Zidane, and Ancelotti.
The Portuguese laid the foundations for what would later be the success of Zizou and Carletto. In them, and each in two stages, Pérez trusted, gradually closing the circle of coaches he would vouch for. That's why now, with Ancelotti on thin ice, facing what could be his last weeks after four consecutive years (1,423 days, a record for Florentino), the president faces a new pivotal decision: choosing the coach to lead this new galactic era... And choosing, if rejecting Carlo, outside the trio he has trusted for the last 15 years. The experiments of Benítez and Lopetegui went wrong, but he is clear that his bet is Spanish: Xabi Alonso.
Who will coach in the Club World Cup?
The heir's name is chosen, but not the date of his arrival. Ancelotti has a contract until 2026 because in 2023, and after only winning the Copa, Florentino decided to renew him. That was his confidence in him, later transformed into the double in 2024. Therefore, despite not reaching the Champions League semis for the first time since 2020, Pérez decided to keep him in charge. The debate was not on the table after the competitive defeat at La Cartuja because Ancelotti will not leave through the back door between matchdays. Everything depends on the league, with morale high after the second half against Barça. They believe they have a chance. If they turn it around... Can Carletto continue, and will Xabi have to wait until 2026? Or will he leave with even more honors?
What seems clear at Valdebebas is that the coach sitting in the Club World Cup on June 18 must be the coach for the next season, as the tournament will serve as a summer camp. It ends on July 14, and the league starts on August 16. If Madrid does not overtake Barça this month, Alonso will travel with the team to the United States. If they win, we will see if the Club World Cup is the final tribute to Carletto.
Minor squad renewal
Once the bench issue is resolved, Florentino, alongside José Ángel Sánchez, general director and right-hand man of the president, will have to make key decisions about the squad. Not making signings in winter has had consequences, and they know the team needs a slight facelift.
Modric, Lucas, and Vallejo are out of contract in two months. The central defender, who has not featured all season, will not continue, while the Croatian and the Galician want to stay, assuming the role given by the coach in charge. The advanced signing of Alexander-Arnold closes the door to Vázquez, one of the most beloved and influential players in the dressing room. Alaba, who has not been the same since his serious injury, has one year left, and the club will try to find an amicable solution, although his high salary complicates any negotiation.
The center of defense is a concern, awaiting Militao's recovery. Madrid would like to sign a center-back, showing interest in Huijsen, but seems unwilling to pay the ¤60 million demanded for him.
Furthermore, the inconsistent season of players like Mendy, Rodrygo has put them under scrutiny. The management values the seasons of Miguel Gutiérrez and especially Nico Paz, who shines at Como. The club has a buy-back option for both.
The last set of decisions relates to the institutional level. Florentino, who insists on the necessary good relationship with Barça, maintains open fronts with some of the most important football organizations in Europe and Spain: UEFA with Ceferin, the Federation with Louzán, the Referees Committee, Tebas's La Liga... His absences at the Ballon d'Or gala and the Copa del Rey final pre-match, two unusual events, have led to criticism of the club, which does not seem to slow down its confrontational pace.
Florentino is convinced of the changes football needs, even if it means controversies every month for him and the club for several years. A war that, so far, the president has not managed to win because Tebas, now also vice president of the RFEF, and Ceferin are accumulating more power.