Real Madrid have officially announced that they will call an election for the position of club president and membership of the board of directors this month.
The club's Electoral Board confirmed the news via a statement after the decision was ratified on Thursday.
Candidates who meet the club's requirements must apply between June 9 and June 18, after which a date to hold the elections will be decided, provided that there is more than one person running.
It is expected that incumbent Florentino Perez will again be elected president and could well stand uncontested, as he did in 2009 and 2013.
Perez, who is in his second spell in charge at Santiago Bernabeu after initially serving as president between 2000 and 2006, will reportedly pursue at least one star signing in the transfer window if he is re-elected.
Madrid, who won a LaLiga and Champions League double in 2016-17, have been linked with Manchester United's David de Gea, AC Milan's Gianluigi Donnarumma and rising Monaco star Kylian Mbappe in recent weeks.