Atletico Madrid might not be up for sale, but CEO Miguel Angel Gil Marin is in talks to sell part of the club to foreign investors. Los Rojiblancos are looking for investment into their urban project on the land around the Metropolitano, which could open the door to further deals.
News broke last week that US investment group Apollo Global Management were in talks with Atletico to buy into the club, with Gil Marin, President Enrique Cerezo, and Ares Management diluting their shares. As things stand, Atletico HoldCo currently own 70% of the club, while Quantum Pacific own 28% . The idea would be to dilute Ares Management’s 34% share in Atleti HoldCo., as well as Cerezo’s 15%, while leaving Gil Marin as the majority shareholder and thus still the main decision-maker.
Saudi Arabia open door to multi-billion investment
The number mentioned for the above deal was a potential €2.5b investment from Apollo. According to VozPopuli, Saudi Arabia have communicated their interest in a potential deal, and a willingness to negotiate for a major stake in the club.
The Middle Eastern oil power are already linked to Los Rojiblancos through sponsorship, with Riyadh Air currently the main shirt sponsor for the club, as well as their stadium sponsor. Riyadh Air are finally expected to start operation as an airline after two years of advertising on the Atletico shirt at some point this year.
Development of Atletico Sports City
The development of the Atletico Sports City could be the impetus for changes in the ownership. Already Atletico are constructing a watersports venue and beach next to the stadium, and have just secured planning permission for a 20,000 capacity concert venue. The plans are for a sports complex and training facilities to be built.
🚨🐐 JUST IN: Al-Nassr wanted Óscar Mayo, the architect behind Atlético Madrid’s business model growth. The club informed him that they were prepared to make him a strong offer to become their new CEO. Óscar told them he wants to stay at Atlético Madrid.@rubenuria pic.twitter.com/NW3RL5Bx1z
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Los Rojiblancos will front €120m of the cost, and will receive €120m from the CVC deal towards the budget. However they are still seeking a further €500m in investment to complete their plans, and are seeking to get that money in before this autumn. Both Apollo and Saudi Arabia could invest in that project too.
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