Real Madrid are searching for a new president this year after Fernando Martin surprisingly quit after just two months in the role.
Martin, who replaced Florentino Perez in February, has stood-down after a board meeting at El Santiago Bernabeu.
The club have now confirmed that presidential elections will be held at the end of the current season.
Until then, Luis Gomez-Montejano will become interim president.
“The board have agreed unanimously to call for a presidential election. We think it is in the club’s best interests,” spokesman for the board Enrique Sanchez told a news conference.
“They have accepted Martin’s resignation so that he can stand in those elections.
“We arrived at the decision after a lengthy debate although there was no formal vote.
“The directors of the club will continue working.
“We are not going to enter into the debate over new signings other than to say we are working to make the club champions again next season.”
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