Atlético Madrid may look like Davids compared to the Goliaths of Real Madrid, but they have a complex financial history. Uefa may well see them as far from being a model club given a record of financial recklessness and the regular use of third party signings, something Uefa would like to see stopped.
Their financial model is so complex that Singapore billionaire Peter Lim, who wanted to buy a club n Spain, took one look at Atlético and walked away. Last week he bought Valencia.
Atlético Madrid may look like Davids compared to the Goliaths of Real Madrid, but they have a complex financial history. Uefa may well see them as far from being a model club given a record of financial recklessness and the regular use of third party signings, something Uefa would like to see stopped.
Their financial model is so complex that Singapore billionaire Peter Lim, who wanted to buy a club n Spain, took one look at Atlético and walked away. Last week he bought Valencia.
Some of their money comes from the Doyen Group, a London-based hedge fund whose sports arm operates out of Malta. Doyen is funded by wealthy businessmen from Kazakhstan, Turkey, Portugal and the United States.
Atlético have also received money from Jorge Mendes, the agent who is involved with the Quality Sports Investment fund that buys up the rights of players, including reputedly a third of Diego Costa. The Spanish taxpayer has also pitched in and is owed €80m after years of mismanagement.
Atlético are confident their finances will improve if they move into a new stadium in 2016 which will boost match-day income.