Atlético Holdco: the company that will inject 120 million into the club

Atlético issued a statement a few days ago by which it transferred to the next shareholders' meeting the possibility of a capital increase of almost 182 million euros. The reason is clear: that the rojiblanca entity gains strength in the face of the economic crisis caused by the pandemic. Covid-19 has created a hole of about 90 million euros in Atlético's economy Due to the lack of income from tickets, ticketing, stores … Atlético is also in a difficult situation, since a couple of seasons ago it renewed its squad and although it made a significant amount of money with the departure of Griezmann, Rodrigo or Lucas, it signed players like João Félix, Felipe, Marcos Llorente, Trippier … A strong investment that the club it's paying. A renewal to which he was forced after the departure of players who had been club legends: Gabi, Godín, Filipe Luis, Griezmann himself …

The club continues, on the other hand, facing the amortization of the stadium. Atlético sold the rights to the Calderón land and with them paid for half of the expenses of the Wanda Metropolitano. The other half, about 160 million euros, is still paid by the club. Atlético is attending to stadium payments, in addition to those relating to other clubs for the aforementioned signings and still have to cope with the day-to-day outlays of society, such as payroll payments to employees.

For all this, and to remain a competitive club, the club decided to propose to the Shareholders' Meeting on June 25, a record capital increased in the entity. If approved, Atlético would receive an injection of more than 180 million euros. The club has three large shareholders and some 7,000 small ones. Of the three major shareholders, Miguel Ángel Gil has 51 percent of the shares; 32 percent Idan Ofer (his shares plus the one he bought from Wanda) and Cerezo has 15 percent.

New society

Atlético has created a new partnership with the idea of ​​reinforcing the position of Gil Marín and Cerezo in the club: both have 66 percent of the shares, that is, two-thirds of them. Of those almost 182 million, 66 percent of the money will come through this new company, called Atlético Holdco. The idea, which has to go ahead in the Shareholders' Meeting, is that new capital enters through Atlético Holdco. The intention of the new company is to inject into the club the corresponding part of the total expansion (two-thirds, that is, more than 120 million euros).

The new company is domiciled at Avenida de Luis Aragonés number 4, at the Wanda Metropolitano stadium, and has a subscribed capital of 60,000 euros. Gil Marín appears in the company as president and CEO, while Enrique Cerezo appears as director together with Mario Aragón, financial director of the club, and Jiménez de Parga, secretary of its council. Atlético moves and rearms for the future.