Despite just having won the league title, Perez sacked coach Vicente del Bosque and made players such as club captain Fernando Hierro and Makelele find new teams.
It was a move that backfired badly on the Madrid chief as the team did not win another trophy during his reign and he stepped down in 2006, midway through his second term.
With Perez now set to run again, Makelele was keen to remind the club's supporters of his track record and explained why he felt he had to leave the club six years ago.
"He was not interested in me because I was not going to help sell any club shirts," the Frenchman told France Football.
Many Madrid fans see the sale of Makelele as one of the big mistakes of Perez's time at the helm and only the arrival of Lassana Diarra has sparked claims that his replacement has finally been found.
Lucas Brown, Goal.com