New Real Madrid President Vicente Boluda said Monday that the club would hold new elections this July. Boluda stepped up from the vice presidency of the club on Friday following Ramon Calderon's resignation, which was provoked by his implication in a vote rigging scandal.

However, Boluda told Spanish national television TVE that he had no intention of trying to see out the remaining year and a half of the current Board's mandate and that scheduled elections to choose a new president would be brought forward 12 months.

"The logical and the best thing for the club is for the elections to be held in the first or the second week of July," said Boluda, who also ruled out being a candidate himself.

"I am not going to stand, so in that way I will not allow anything that gives anyone else any advantage," he confirmed.

Real Madrid have signed two players during the January transfer window and Boluda also said the club would be making no further deals in the transfer market until the elections had been celebrated.

"What we are not going to do is buy or sell anyone," he said.

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