Club Atlético de Madrid: a new investor as part of the €181.8m capital increase

Miguel Ángel Gil, majority shareholder and CEO of Club Atlético de Madrid (LaLiga Santander), and Enrique Cerezo, minority shareholder and president of the club, are combining their holdings in a new legal entity called Atlético Holdco, according to the Spanish club on 25/06/2021. In parallel, a new investor, the American firm Ares Management Corporation, has acquired 33.96% of this new company, which holds 65.98% of Atlético's capital.

This change in the Madrid club's shareholding structure is part of the €181.8m capital increase announced on 24/05 and eventually approved by the general meeting of shareholders on 25/06/2021. Atlético Holdco will contribute €120m via the exercise of its pre-emptive subscription right.

The purpose of the capital increase is "to mitigate the adverse economic effects caused by the pandemic on the club's income during the last season (2020-21), as well as to reduce the level of indebtedness derived from both the investment in the new stadium (Wanda Metropolitano, inaugurated in September 2017) and the acquisition of players to maintain the high level of…