Real Madrid president Florentino Perez has announced a plan to change the club’s ownership model to allow for external investment for the first time in their history.

Madrid are currently constituted as a club which is ‘owned’ by its socios (club members), as it has been since the club’s founding in 1902.

Perez, 78, first mentioned the possibility of holding a “referendum” about changes to this ownership structure at the club’s annual general assembly last year, but until Sunday no further details had been made public.

Club figures have spent the last 12 months evaluating the merits of different options, and at Sunday’s assembly at Madrid’s training ground Perez revealed plans for a “minority shareholder” to enter alongside the club’s current 98,272 members.

Any change to the ownership model would require the socios to approve it in a vote, and Madrid’s president said he will call an “extraordinary assembly” at which around 2,000 compromisario (representative) socios will have a chance to vote on a proposal to put the change of club model to a referendum of all socios over 18 years of age.

“During these months we have reflected deeply on how to make visible the value of Real Madrid and the conclusion is clear,” Perez said. “We will continue to be a members’ club, but we will make a subsidiary company in which the socios maintain control but with a minority shareholder with 5% or so (of the shares).

“This way we can know what the club is worth. We do not want to float on the stock exchange. We will limit the share of investment so that the club remains in the hands of its socios. This investor or investors must share our values and help protect our assets against external attacks.

“Real Madrid will always have the right to take back the investment. Madrid must not depend on just some directors or one president, we do not want it to fall into the hands of anyone. This step will be decided freely by all members by referendum. At the EGM (extraordinary general assembly) we will be able to explain more, but I want to avoid all the things in the papers these days.”

Changes to Real Madrid’s ownership model had been well flagged in advance but it was still startling to hear club president Florentino Perez announce a plan for a new company in which the club’s existing socios would be joined by a new private investor.

Perez spent most of his almost two hours speaking at Madrid’s AGM in the basketball pavilion at the club’s super modern Valdebebas training ground attacking perceived enemies elsewhere in football – La Liga president Javier Tebas, UEFA, Spanish referees and Clasico rival Barcelona.

The most important intervention was left until almost the very end – and was again explained as a way of protecting Madrid’s socio ownership from attacks from outside, in this case Tebas’ “clandestine” lobbying to change the country’s laws so that La Liga could receive a greater share of Madrid’s annual revenues.

The solution for this is both controversial and interesting – instead of converting into an SAD (sports limited company) like most of Spain’s professional clubs, Perez said Madrid are planning a novel ownership structure which will allow each socio to have just one share. This will have a monetary value, and can be passed on – but only to children or grandchildren – in a way which the club have yet to explain.

Well informed sources – speaking anonymously as not authorised to share details – say the new structure has benefits. The investors would get a ‘dividend’ or share of the club’s income, but would not have any voting rights. Socios would continue to be able to elect the club president and control any changes in the club statutes, but would not receive any dividends each year.