The controversial figure is reported to have stepped aside 'happily' as part of an internal reshuffle to pave the way for a crucial new funding package needed by the cash-strapped club.
Gil, who remains a majority shareholder in the club, will be replaced by his deputy, Enrique Cerezo, whose first task will be to oversee a EUR36m investment package to protect the club's long-term future.
Gil is currently appealing against a three-and-a-half year prison sentence after being found guilty earlier this year of misappropriation of funds and fraud, following an investigation into issues connected to his time as mayor of Marbella and in connection to the club.
