The Real Madrid website is now carrying the full text of Calderon’s resignation press conference. In his statement Calderon said “Against the recommendations of my board I’ve decided to step down.” It will be interesting to hear the position of the board should they choose to speak with the media about this matter. “I have nothing to hide and firmly deny all the lies that have been published by various media sources in the past few days,” Calderon added.

Vice President Vicente Boluda (pictured above courtesy of the Real Madrid website) has been promoted to President and will hold that post until a general election can be held in the summer. It is thought that a new president might not be in place until July.

I could see this affecting both the current transfer window and the summer transfer window as well. The club may not make any big moves until the new leadership is in place. In case you were hopeful they would cease, I think this will only temporarily halt the rumours of Cristiano Ronaldo moving to Real Madrid. Look for the player to be used as campaign promise material for the presidential candidates.

What are your thoughts on this? How will it affect Real Madrid?

Shocking news, or perhaps not so shocking depending on your perspective, regarding Ramon Calderon has emerged this morning.

Calderon has reportedly bowed to pressure and will announce his resignation as the club’s president after reports came out in the Spanish press that he had rigged the recent general assembly election in order to get his budget proposals passed.

A roughly translated version of a story in the Spanish newspaper Marca, which broke this story, gives some insight into what happened and is available through this link.

Real Madrid’s official website notes that Calderon will address the media today so I will reserve comment until after his statement. If he does stand down, Vicente Boluda, the club’s vice president, is expected to take his place until a new election could be held. More information and commentary is also available at our sister site LaLigaTalk.com