An Israeli business group, widely reported to be led by billionaire Idan Ofer, is set to take a 15 per cent stake in Atlético Madrid through a deal that will see a reduction of the shareholdings held by president Enrique Cerezo, chief executive Miguel Angel Gil Marin and Chinese conglomerate Wanda Group, reports Sport Business.
Cerezo confirmed to Spanish radio station Onda Cero today (Thursday) that Atlético has launched a rights issue due to the financial input of "an important Israeli multinational", which will purchase a 15 per cent stake for €50m ($57.9m).
Cerezo is the club's majority shareholder along with Marin, and after the rights issue their share will drop from 72.5 per cent to 65 per cent.
Wanda paid €45m for a 20 per cent stake in the club in January 2015. It marked the first Chinese investment in a top-flight European football club. Their holding will reportedly fall to 17 per cent, still making it the second-largest shareholder.
Cerezo stressed that minority shareholders, who hold a three per cent interest in the club, will maintain their stake. "We've spent almost a year speaking to investors who want to buy shares in the club, and this morning the board approved the incorporation of 15 per cent of an important company, a multinational," Cerezo added.
"It's an important Israeli group that among other businesses deals in oil and it is the one that interested us the most of all the groups we dealt with."
Atlético is said to be under renewed financial pressure following its move to the new Wanda Metropolitano stadium, which opened in September, and to which Wanda holds naming rights.
Spanish newspaper Marca said the Israeli deal is set to be formally announced following a general meeting of shareholders scheduled for next month. If it goes through, the agreement would add to the Israeli influence at the club.
Source: tribalfootball.com