O Real Madridthe 15-time European football champion, is proposing a major structural change that envisages transferring ownership of the club to its supporter members, paving the way for external investors.
Under the proposal, fan members would become “the true owners of the club”, said president Florentino Pérez during Real Madrid’s general assembly on Sunday (24), without providing further details.
“We have 100,000 fan members and we can distribute assets that I believe are worth more than €10 billion (R$60 billion),” he said, adding that the proposal will be put to a vote by the members.
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Currently, Real Madrid is a non-profit club made up of hundreds of paying fans — a system that prevents private investors from acquiring stakes, as fans do not own shares. Although rare among Europe’s top football clubs, this fan ownership structure is also adopted by Real Madrid’s main rival, Barcelona.
Under the leadership of Pérez, who has presided over the club since 2009 and also held the role between 2000 and 2006, Real Madrid has consolidated its position as the most successful club in Europe. However, during his tenure, Pérez also clashed with football managers in Spain, Europe and at rival clubs over how the business of sport should be run.
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Controversial projects
Billionaire businessman in the construction sector, Florentino Pérez was one of the creators of a failed attempt in 2021 to create a new European tournament outside the control of UEFA, the entity that regulates football on the continent. Most teams ended up abandoning the project after fan protests, but Pérez continues to defend it, saying it is necessary to improve the way revenue is generated and distributed between clubs.
Currently, there are four clubs owned by fan partners in Spain’s first division: Real Madrid, Barcelona, Athletic Club de Bilbao and Osasuna. In 2021, these clubs resisted a league deal to sell broadcasting rights to the broadcasting company. private equity CVC Partners for 50 years.
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Most of Europe’s big teams are owned by private investors, corporations or sovereign wealth funds. In Germany, a hybrid model is common in which fans own the majority of a club and investors hold a minority stake.
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Financial sustainability
Because he does not own a stake in Real Madrid, Pérez does not invest his own money in the club — unlike other investors who manage teams across Europe and need to cover expenses out of their own pocket. Pérez is elected by the members, and the club must cover its expenses with the resources it generates.
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