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Israeli multinational buys 15 percent of Atletico Madrid shares

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Israeli multinational Quantum Pacific Group has acquired 15 percent of Atletico Madrid shares in a €50 million (£44.6m) deal.

However, the club chief executive Miguel Angel Gil Marin will remain the majority shareholder, with just over 50 percent.

The club president, Enrique Cerezo and the Wanda Group, which owns the naming rights to the Wanda Metropolitano stadium, hold around 17 percent.

President Cerezo confirmed the Quantum Pacific Group investment on Onda Cero radio on Friday.

He said: “We’ve spent almost a year speaking to investors who want to buy shares, and this morning the board approved the incorporation of 15 percent of an important company.”

The former LaLiga Champions confirmed details of the arrangement in a statement.

The statement said Quantum Pacific Group chief Idan Ofer had been personally involved in the deal and added that an AGM would be held to formalise the new ownership structure.

“Quantum Pacific Group will invest €50 million for a 15 percent share, with all of the money going to the club for its development, which will ultimately benefit all current shareholders,” it said.

“Quantum Pacific Group has significant interests in various industries globally, including shipping, energy, natural resources, medical technology and automotive.

“The club’s board of directors has made a decision to immediately propose in its annual meeting to increase Atletico Madrid’s share capital by 15 percent to enable this investment.”

The 2014 and 2016 Champions League finalists announced on Thursday that they had signed a three-year contract extension with Israeli trading platform Plus 500, their shirt sponsor since 2015, to run until 2021.

 

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