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.