Ramon Calderon looks set to stay on as Real Madrid president despite reports suggesting he will resign in wake of the voting scandal which has rocked the club.
Calderon was reported to be on the verge of stepping down on Thursday evening following a probe into alleged vote rigging at the club's general assembly last month.
But the outspoken supremo is now believed to have had a change of heart and will stay on until the end of the season when emergency elections will be held.
Speaking on Wednesday, Calderon denied any wrongdoing, saying: "We were all unpleasantly surprised to read the allegations made by the newspaper Marca.
"None of us had any direct or indirect participation in such events."
However, his future remains unclear as Calderon has come under intense pressure in recent months and survived a vote of confidence at the general assembly.
His inability to land high-profile transfer targets like Cristiano Ronaldo and the club's failure to keep pace with La Liga leaders Barcelona have led to Calderon's popularity waning among fans.