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A Friday afternoon meeting saw Atlético Madrid’s shareholders give the unanimous green light to a €181.8 million capital increase — a much-needed cash injection that will help to stabilize and sustain the Spanish champions post-COVID.
With fans set to return en masse to LaLiga stadia next season, Atlético and the other 19 teams will see a healthy revenue spike in 2021/22. However, not many clubs “boast” Atleti’s (almost) €1 billion debt, so Friday’s news — first mooted weeks ago — is a welcome boost for the league champs.
Most of the money — €120 million — will come from a company called “Atlético HoldCo.” Atlético CEO Miguel Ángel Gil Marín runs this company, while club president Enrique Cerezo is listed as a director. Cerezo and Gil Marín are Atleti’s two largest stakeholders and own around two-thirds of the club’s shares, which have effectively been transferred to this new company.
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Los Angeles-based Ares Management Corporation has struck an agreement with Atlético HoldCo for a 34 percent stake in the firm — an investment deal which will see another €60-million plus injected via the firm into the club for a total of nearly €182 million.
Atlético are said to have lost €80 million due to the pandemic, and this money is expected to cover those holes in the budget and help the club with its debt. The funds might also help Atleti get the €35 million Rodrigo De Paul deal over the line after the Copa America while also paving the way for contract renewals. Diego Simeone is close to finalizing a contract extension through 2024, while Marcos Llorente will likely receive a fresh deal with a higher salary after EURO 2020.