Pedro Parages Diego-Madrazo (17 December 1883 – 15 February 1950) was a Franco-Spanish footballer, manager, and the 5th President of Real Madrid from July 1916 until 16 May 1926.

During his mandate, Madrid FC received the Royal title (Real) from the hands of the King Alfonso XIII.

[3] Upon returning to Spain, he began his practice at the Association Sportive Française, later known as the Association Sportive Amicale, of the French Lyceum of Madrid, a club where he played for two years, until 1902, when he joined Madrid FC, who had just been officially established on 6 March 1902 in a meeting held in the back room of Al Capricho by the Padrós brothers (Juan and Carlos).

Parages played a crucial role in the first great team in the history of Real Madrid since he was able to pass on to his teammates the knowledge that he had acquired in England about football.

[3] In addition to his valuable contributions as a player, Parages was also the author of the club's rules and regulations, which he drew up from the experience he acquired in England.

[2] In addition to being a great player, he was also a great patron for the entity, and his main achievement as such was getting the funds for the construction of the first proper football pitch the club ever owned, the Campo de O'Donnell, which opened in 1912, during his first interim presidency, but despite being only a short spell in the absence of the then president Adolfo Meléndez, it left a big mark in the club since O'Donnell allowed the exploitation of football as a sporting spectacle by charging money for tickets for the first time in the country's history.

[1] His first year in office (1917) was a triumphant one, as Real Madrid won their first Copa del Rey since 1908, as well as the regional championship title.

They bought the land for 642,000 pesetas, and once again, it was Pedro Parages, who together with José María Peña, Bernardo Menéndez and Carlos López Quesada, endorsed the amount.

[3] During his time as president of Madrid FC, Parages managed the Spain national team in 1923–24, coinciding with the 1924 Olympic Games in Paris.