The pair retained a healthy relationship and went to battle once more in the 2004 elections but Perez was triumphant again.
Spain is one of the worst-hit countries by coronavirus as they have 25,374 confirmed cases and have 1,378 recorded deaths.
La Liga has been postponed, like the majority of Europe’s top-flight football divisions, and it is unclear when the fixtures will resume.
Real have placed their entire team into quarantine to ensure their squad are as safe as possible.
A club statement read: “The recommendation has been made to quarantine both the basketball first team and the football first team, given that the two squads share facilities.”
Meanwhile, a host of La Liga clubs have poured out with tributes for the late Sanz.
Real’s arch-rivals Barcelona wrote: “We regret the loss of Lorenzo Sanz Mancebo, who was president of Real Madrid between 1995 and 2000, and we extend our condolences to club, family and friends. Rest in peace.”
And Valencia said: “@valenciacf wants to express their sincere condolences to the family and close friends of Lorenzo Sanz, former president of the @realmadrid. RIP.”
Espanyol said: “The RCD Espanyol de Barcelona wants to express its deepest condolences to the family and friends of Lorenzo Sanz, former president of @realmadrid, in these difficult moments. Rest in peace. #EspanyoldeBarcelona #RCDE.”
Former Real assistant manager Aitor Karanka, who also coached Middlesbrough and Nottingham Forrest, expressed his sadness at Sanz’s passing.
He wrote: “Today is a very hard day. Lorenzo Sanz and Santiago Denia have left us early.
“Two people to which I had a great appreciation and with which I enjoyed very good times, also with their families, to which I send a strong embrace, especially Fernando and Santi.”