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?