Riquelme, a 37-year-old businessman from Alicante, made the announcement on El Larguero on Cadena SER, framing the choice as a deliberate return to the club's identity and values after two successive trophy-less seasons under the incumbent.
"For this project and in the situation the club is in, we have to go back to those values, to that madridismo, to the DNA," Riquelme said. "There has to be a Real Madrid legend. Someone who has played 741 games, 16 seasons, more than 300 goals, 102 international appearances. There is nobody who knows the white house better. And that is the person we have decided on."
He then named him directly.
"He is the right person to lead a sporting project like the one coming at Real Madrid. It is Raúl González Blanco. If I am president, Raúl will be sporting director."
Raúl, now 48, spent his entire senior career at the club from 1994 to 2010, scoring 323 goals in 741 appearances to become its second-highest goalscorer of all time. He captained the side through three Champions League triumphs and six La Liga titles before leaving for Schalke 04.
After retiring as a player, he returned to the club's academy structure in 2018, taking charge of Real Madrid Castilla in 2019 before departing in May 2025.
Riquelme said the appointment had already been secured: "I had to explain the project to him, what we expected from him and what we thought he could contribute. There is no one more suitable for that role than him."
He also confirmed that additional club legends would feature in his broader project, though declined to name them.
On transfer targets, Riquelme indicated he had been working on two signings, naming Ballon d'Or winner Rodri as one of them.
"Rodri is a wonderful footballer, Madrid-born, Ballon d'Or winner, and I love a player like Rodri for Real Madrid. If I am president, a player like Rodri will play for Real Madrid. But I am not yet president, he has a contract with his club, and that must be respected. I have had contacts with his representative."
He said the second signing, a foreign player, would be announced on Wednesday, with his preferred coaching candidate to follow shortly after.
On José Mourinho, whose return to the Bernabéu has been widely reported as a near-certainty under Pérez, Riquelme was direct without being dismissive.
"A great manager, who had his moment at Real Madrid, but he is not what is needed right now."
On Arsenal's Mikel Arteta, he said only that there were "other great managers."
The wider backdrop to Riquelme's candidacy is his stated opposition to what he believes are Pérez's intentions to alter the club's statutes to allow an eventual sale. He has made blocking any such move his primary motivation for standing.
"I entered this race to stop the sale of the club. That was my first red line."
Real Madrid's approximately 95,000 registered members vote on Sunday, June 7. Pérez, 79, is seeking a seventh term and remains the strong favourite. He called the election early in May following a second consecutive season without a major trophy.