Spanish police detained Wednesday former Real Madrid president Lorenzo Sanz, who is suspected of taking valubale artwork out of Spain without the proper authorisation, news radio Cadena Ser reported.
Plainclothed police detained the 66-year-old real estate magnate at around noon in central Madrid and took him to a police station for questioning, the radio reported, citing unnamed sources close to the investigation.
Sanz used his own money to bring in star players such as Croatian striker Davor Suker and Montenegrin midfielder Predrag Mijatovic during his stint as Real president between 1995 and 2000.
The club won two UEFA Champions League titles, in 1998 and 2000, during his time in office.
His detention comes with big-spending Real being ridiculed by the press for being eliminated from the Spanish Cup by third division side Alcorcon.
Real crashed out of the competition on Tuesday night when they could only manage a 1-0 home victory over Alcorcon, a team from the Madrid suburbs, who went through to the last 16 with a 4-1 aggregate score.
