Florentino Perez admits he made a mistake in stepping down as Real Madrid president three years ago.

But he is confident he can now help the Spanish giants get back to the top of the football tree.

Perez called time on an eventful six-year tenure as Madrid president in February 2006, hoping his departure would help spark a revival in the club's on-pitch fortunes following three seasons without a major trophy.

Perez had employed six different coaches during his reign and he admitted at the time the only thing left was to stand down himself.

Since his departure Madrid have won back-to-back Primera Division titles but their struggles in Europe have continued and the team's 5-0 aggregate mauling by Liverpool earlier this year was the fifth successive time they have failed to get beyond the last 16 of the Champions League.

Madrid also seem certain to end this season empty-handed, with arch rivals Barcelona still on course to become the first Spanish club to win the treble of league, Copa del Rey and European Cup.

Barca's success has exacerbated the problems at Madrid, which are not limited to on-field concerns but also in the boardroom, where former president Ramon Calderon resigned in January following allegations of voting irregularities at the club's last general assembly.

Calderon's departure led to the club calling presidential elections 12 months ahead of schedule this summer and the man who has been installed as firm favourite to win is Perez.

"The first thing I wish to say is that, with hindsight, I have to admit the decision I made three years ago was wrong," Perez said today as he officially announced he would be re-running for the presidency.

"At that moment I stepped down in order to help Real Madrid out. I felt that my departure was good for the club because I thought the solidity and stability of the institution were fully guaranteed.

"It was not an easy decision and it is clear that was not the right one. I should not have quit before giving Real Madrid the stability it needed."

Perez feels he is the man to correct those problems, though, and promised supporters a "spectacular sporting project" if he returns to power this summer.

"I've got the same enthusiasm that I had in 2000. There are many problems but we are convinced that we can solve them," said Perez at today's press conference at the Ritz Hotel in Madrid.

During Perez's previous tenure, Madrid won seven titles, including two Primera Division crowns and the Champions League, but his reign was best remembered for the famous 'Galacticos' policy.

That policy saw Madrid sign a host of superstar players such as Luis Figo, Zinedine Zidane, David Beckham and Ronaldo, and Perez today hinted his campaign bid could follow a similar pattern - although he refused to name any names.

"We are working towards and we will work to create a spectacular project and that is to make Real Madrid the best club in the world once more," said Perez.

"We want to clean the image of the club and become leaders in Europe.

"A club like Real Madrid needs to have several of the best players in the world and even though I can't discuss names today, we have a spectacular project on the sporting side."

Cristiano Ronaldo is one of the names that has been closely linked with a move to Madrid over the last few years and media speculation in Spain suggests he will be near the top of Perez's wanted list this year as well, along with a host of other big-name players.

When asked about the Manchester United winger today, Perez would only commit himself to saying: "Cristiano Ronaldo is one of the best players in the world."

Perez also refused to reveal his choice of coach for next season, and when asked about Inter Milan's Jose Mourinho and Arsene Wenger of Arsenal, he said: "They are two magnificent coaches but I can't discuss names.

"Out of respect to other clubs in Spain and the rest of Europe, I will wait until the season has finished to say everything I have to say."

The Madrid-born businessman, 62, promised to reveal more when he officially launches his campaign later this month but says his plan is to build a side that can compete with Barcelona in Spain and English sides Manchester United and Chelsea in Europe.

"Barcelona are having a magnificent season but that is motivation for me because I want to make Madrid great again," he added.

"I want us to be the leader in Europe, to compete with teams like Barcelona, Manchester United and Chelsea."

Madrid's elections are scheduled to take place on June 14.