Atlético and Manchester City intend to finalise a strategic partnership in the spring, at the end of the current Liga and Premier League campaigns, AS reports.
The deal will be made official upon a simultaneous signing to take place in both Madrid and Manchester. By way of the agreement, both sides will seek joint sponsorship deals, share information on youth squad members and exchange players.
The partnership is part of a larger association to be composed of 10 to 12 football clubs throughout the world. Already united to the cause are Manchester City (England), Raja Casablanca (Morocco), Al Ain (United Arab Emirates), Muangthong United (Thailand), Shanghai Shenhua (China), América (Mexico) and Atlético Madrid (Spain).
The next three teams expected to affiliate will come from Brazil, United States and Japan.
This first-of-its-kind alliance will help each member club expand its global appeal, and will be nurtured annually by a friendly pre-season tournament to take place in early August.
Among the affiliates are some of the world’s richest clubs. Al Ain is owned by Mohamed Bin Zayed Al Nahyan, the prince of Abu Dhabi; Muangthong is owned by Siamsport, a company that also owns 90 per cent of Thailand’s TV rights; and, Manchester City, is owned by Mansour bin Zayed Al Nahyan, Deputy Prime Minister of the United Arab Emirates.
Strapped for cash, Atlético directors will hope to profit from their alliances and bring in additional capital. Funding is still needed for the ever-pending construction of the Peineta stadium and the Alcorcón athletic facilities.