Ramon Calderon has resigned as president of Real Madrid football club following an emergency board meeting.
Marca newspaper had previously published allegations of irregularities at the club’s general assembly last month. However, Calderon insists that, although he may have committed errors, there were no irregularities.
Ramon Calderon took over at Real Madrid in 2006 and under his presidency they have won two league titles. However, Calderon has also dismissed both of the winning coaches, first sacking Fabio Capello and more recently Bernd Schuster
Vicente Boluda will take over as president until new elections can be held, which will be after the end of the current season.