According to El Periodico, Madrid president Perez has initiated one of the massive corporate changes in club’s modern history, laying out plans to sell approximately 10% of a newly formed commercial entity in order to generate fresh investment. The move follows the club’s earlier deal in which they sold 20% of future Santiago Bernabeu profits to Sixth Street and Legends for €360 million (£317m/$417m), a financial manoeuvre widely framed as Madrid’s first “lever”.
Perez detailed the new proposal to Real Madrid’s members, stressing the need to modernise the club’s organisational structure while maintaining the traditional member-owned model. As he told members directly: “Our club must have an organisational structure that protects us as an institution and also protects all of us as owners of Real Madrid. To this end, I confirm that we will bring to this Assembly a proposal for the club’s corporate reorganisation that secures our future, protects us from the threats we face, and, above all, guarantees that the members are true owners of our club and its financial assets.”
Those words underline the president’s attempt to balance the necessity of new investment with the fiercely guarded identity of the club as a non-SAD (Sociedad Anonima Deportiva, a special type of public limited company related to sports) sporting entity. Perez has long admired versions of Germany’s 50+1 structure, but Spanish law presents stiff barriers to adopting that model. With no legal path to transform Real Madrid into a Bayern Munich-style hybrid, the club is instead exploring a framework of subsidiaries that would enable investment without relinquishing sporting control.
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