Former Real president launches bitter attack on Perez

Former Real Madrid chief Lorenzo Sanz heavily criticised his successor Florentino Perez on Friday for his financial management of the club.

"I am convinced that the present economic situation is worse than it was when we left the club," Sanz, who was defeated in the presidential election four years ago, told Barcelona-based sports daily Mundo Deportivo.

"Perez has already squandered the 480 million euros from the sale of the old training ground in the Castellana."

"It would be very good for the club if one or more candidates stood in the elections so that they could clear up and analyse all the accounts of the present directors."

Sanz took over as president when Ramon Mendoza resigned in November 1995. He was at the helm when Real won the European Cup in 1998 and 2000.

However, he was defeated in the 2000 elections after Perez promised to bring Portuguese midfielder Luis Figo to the club by paying $56 million to buy him out of his contract at Barcelona.

Perez was highly critical of Sanz's running of the club and blamed him for the $250 million-debt which he said he had inherited when he took over the presidency.

Soon after taking charge Perez managed to negotiate the sale of the club's city-centre training facility to the local authority, a measure which Sanz had also attempted during his presidency but had been blocked at the time.

The European Commission has since launched an investigation into the deal to see if the city of Madrid had overpaid for the land which would be tantamount to a hidden subsidy.

Perez said that the money raised by the sale had allowed him to clear the club's debts and to fund the world record $66 million purchase of Zinedine Zidane and the subsequent signings of Ronaldo and David Beckham.

Sanz said he was still hurt by the 2000 election result and was considering whether to stand against Perez in July.

"For me it was an injustice (to lose the elections) because I had given my heart and soul to the club but at the same time I left satisfied that I had dedicated 15 years of my life to Real Madrid."

"I don't rule out (standing in the elections) but I don't know right now because I'm very happy and am keen to continue living well. I will see how things develop and who stands in the elections."

Perez has hinted, but not yet officially confirmed, that he will stand for re-election in July.

The club has won two league titles and the European Cup in the four years since Perez took charge but they will end the present season without a major trophy.