Saudi Arabia has made significant strides in football recently. Their takeover of Newcastle United in the Premier League has generated excitement and speculation about their future ambitions. Reports now indicate that they are targeting another European powerhouse: Atletico Madrid.
A Growing Partnership
Saudi Arabia’s connection with Atletico Madrid has strengthened. Riyadh Air, the Saudi airline, is now the club’s official shirt sponsor. There are even talks about naming the Metropolitano Stadium after the airline.
Spanish media reports revealed that Saudi Arabia is eyeing Atletico Madrid. The Middle Eastern government is exploring the terms for a potential purchase. Key questions involve the club’s CEO, Miguel Angel Gil Marin, and his willingness to sell his shares.
🚨🇸🇦 BREAKING: Saudi Arabia has shown interest in buying Atlético Madrid if Miguel Ángel Gil Marín decides to sell his stake.
They are already in negotiations with the club to sponsor the Metropolitano, with Riyadh Air as a potential candidate.@josemagarciasua pic.twitter.com/8TtkNLepeb
— Atletico Universe (@atletiuniverse) September 19, 2024
Financial Implications
Currently, Gil Marin intends to stay with Atletico Madrid. Thus, a Saudi takeover is not immediate. However, if Gil Marin changes his stance, Saudi Arabia could seize the opportunity. A takeover might help Atlético with financial challenges, but the club’s current stability reduces the urgency.
Newcastle United Takeover And Success
In 2021, Saudi Arabia successfully acquired Newcastle United for £300 million. The investment group includes the Public Investment Fund (PIF), PCP Capital Partners, and RB Sports & Media. By July 2024, PIF increased its stake in Newcastle from 80% to 85%, cementing its role as the principal owner.
Turki Alalshikh’s Involvement
Turki Alalshikh, chairman of Saudi Arabia’s General Entertainment Authority, completed his takeover of Almeria in 2019. He bought the Spanish club, who currently play in the second division, for about $20 million and has since invested an additional $30 million to improve the squad.
Atletico Madrid continues to grow under manager Diego Simeone. The club plans to build a state-of-the-art training facility, Ciudad del Deporte. This development aims to boost their status in European football.
Investor Interest
Atletico Madrid’s success makes it an attractive target for investors. The club’s strong financial position and ambitious plans enhance its appeal. While a Saudi takeover is not certain, their interest underscores Atlético Madrid’s growing attractiveness.
As Atlético Madrid evolves, it remains to be seen if Saudi Arabia will take action and become the new owners.
