Former Real Madrid president Florentino Perez, who helped bring a host of world stars to the club including David Beckham, Thursday announced he hopes to return to the post in elections next month.
The hugely successful businessman said he made the decision as a result of the "serious events" at the reigning Spanish champions in recent months.
Former president Ramon Calderon resigned on January 16 over allegations he rigged voting at the club's last general assembly in December, which approved its financial accounts.
A judge last week placed Calderon and 13 others, including caretaker president Vicente Boluda, under judicial investigation, the first step to formal charges, for suspected corruption and fraud.
"We have experienced three years of convulsion and improper behaviour at the greatest sports institution in the world," Perez told a news conference.
"This club has always been characterised by fairness and generosity. It is a sad period that we must overcome."
Perez promised "a spectacular sports plan" for the club.
"We have to compete with Chelsea, with Manchester United, with Barcelona, we want to lead European football again," he said.
Perez led Real from 2000 to 2006, when it earned the nickname "Los Galacticos", winning the Primera Liga twice and European Champions League with such stars as Zinedine Zidane, Ronaldo, Luis Figo and Beckham.
Newspaper El Pais said Tuesday that 2008 World Footballer of the Year Cristiano Ronaldo and Manchester United have both signed agreements with Real regarding the Portuguese winger's transfer to the Spanish side at the end of this season.
It said Perez has already discussed an 80 million euro (109 million dollars) fee with Ronaldo's agent Jorge Mendes.
Perez, 62, Thursday declined to discuss possible signings until the campaign for the June 14 elections officially begins.
But he hinted at the return of Zidane and former coach Jorge Valdano of Argentina, both mentioned by the Spanish press as possible advisors to Perez.
"Everyone knows that Valdano and Zidane are two people who have been very important for Real Madrid, who respond perfectly to the image that I want to put out, and it will be difficult not to have them in my team," he said.
Zidane said he had been in touch with Perez, but "for the moment" had received no call to join him at Real.
"The most important thing is that he (Perez) returns," said the 36-year-old French star, who retired in 2006.
Perez said his decision to leave the club in 2006 was "wrong," as he mistakenly believed that "stability was guaranteed."
"I am capable of bringing back to the club the institutional stability that it needs and present a winning sports plan for Madrid," he said.
With three games remaining in the current campaign Real are second in the table, eight points behind arch-rivals, Spanish Cup winners and Champions League finalists Barcelona, who are virtually assured of the Liga title.
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