"Our president Florentino Perez has tested positive in the COVID-19 tests that he periodically undergoes, although he is not showing any symptoms," a Real Madrid statement said.
This comes after coach and club legend Zinedine Zidane also tested positive late last month.
At the helm since 2000, Perez is credited with ushering in the Galactico era in the club's history, striving to field a star-studded lineup on the pitch to attract commercial prowess as much as sporting success.
During his two tenures as president - Perez left the post from 2006 to 2009 - the Madridistas won the UEFA Champions League, Europe's top trophy, six times, the domestic La Liga trophy five times and a plethora of other silverware. Only Manchester United periodically unseats Real Madrid as the world's most valuable football club.