Gil and Cerezo expand power over Atlético

Abásolo sells his 5% ownership of the club

Atletico Madrid directors Miguel Angel Gil, Enrique Cerezo and Fernando Garcia Abasolo

F.l.t.r.: M.A. Gil, Cerezo and Abásolo

Atlético’s majority shareholders Miguel Ángel Gil and Enrique Cerezo have expanded their stake in the club.

The managing director and club president have bought all of the shares owned by Fernando García Abásolo, who until Monday was the third largest stockholder and a member of the Atleti board.

The fee the duo paid for five per cent of the club’s ownership was not disclosed.

According to the press release on Atlético’s official website, Abásolo’s reason to sell his shares and leave his position stems from a disagreement regarding the club’s “management model”.

AS reports this deal had been in the making for over two months.

It’s publicly known that Abásolo, who resigned as financial director in 2009, was not getting along with Gil and Cerezo. He sued the latter after ‘the Don’ accused him of leaking confidential boardroom information to the press.

Atleti’s presser reports that as part of this agreement, Cerezo and Abásolo have agreed to refrain from slandering the other party regarding the matter.

Combined, the Gil family and Cerezo now hold 89 per cent of the club’s shares, with the remaining stock owned by minority shareholders.

  • rojiblanco93

    The next thing you guys will read on this website is that we sold Falcao,Arda and Adrian to Real Madrid for a total fee of 10€ !!! And those 10€ will be split by these two Gangsters !

  • Lubo

    But this also could mean, that there is someone, somewhere outside the club, who wants is preparing to buy a majority of shares. These two gangsters will now buy all the shares possible from the minor shareholders, just to earn more money in the end from the possible new buyer.

  • starvs

    Rojiblanco93, I hope we sell at least one of those players to PSG instead, they will pay more!

    Happy days are here again.

  • starvs

    I like your optimism Lubo.

  • Lubo

    starvs, I know it’s probably just a wish. But I also know that this kind of behavior is a common strategy of joint stock companies ahead of concealed planned selling. However, this will only make sense if it’s not a solo action and will be followed by another minority shares repurchasing in forthcoming weeks. Let’s see…