Real Madrid president Ramon Calderon has resigned from his post with the Primera Liga giants, according to reports in Spain.
Sports daily Marca writes Calderon tendered his resignation to the board of directors in a midday meeting which lasted around 90 minutes.
A statement on Madrid's website said Calderon has called a press conference on Friday at 6pm local time. The 57-year-old took charge in July 2006 and oversaw back-to-back Primera Liga titles at Madrid, but has recently been in the news following allegations of voting irregularities at the club's general assembly.
Calderon has repeatedly denied any wrongdoing and told a press conference on Wednesday night he had no intention of resigning. Vice-president Vicente Boluda will reportedly take charge until the elections which have been brought forward to this summer.
Calderon reportedly made up his mind to quit last night but claims in Spain this morning suggested he would stay on but call for elections at the end of the season rather than next year as scheduled.
However, pressure from the board has now made him stick to his original decision.