Florentino Perez bows to pressure

Florentino Perez has quit his job as president of Real Madrid.
Perez last night threw in the towel to mark the end of a five-and-a-half-year tenure which saw his expensive band of `galacticos' fail to deliver on the pitch.
The 58-year-old saw Real win the Primera Liga twice and Champions League once, but that record was a relative failure for a club who had invested heavily in the world's most glamorous players.
Madrid have not claimed any major silverware since winning the league in 2003 and look likely to finish this season empty-handed following a string of disappointing recent results.
Perez will be replaced with immediate effect by former club vice-president Fernando Martin.
Perez replaced Lorenzo Sanz in 2000 and heralded the "galactico" era at the Bernabeu by buying stars such as Portugal's Luis Figo, Frenchman Zinedine Zidane, Brazilian Ronaldo and England captain David Beckham

Real Madrid are facing another trophyless season following a disappointing series of results.
Perez's resignation comes after a bad week in which the team lost 1-0 at home to Arsenal in the first leg of their Champions League knock-out tie, then were sunk 2-1 by Real Mallorca on Sunday.
Perez was less than two years into his second term as Real president having been re-elected in July 2004.