Atletico Madrid President reveals timeline for handover of power to new investors

Atletico Madrid President Enrique Cerezo has revealed that a hand over of power at the club will occur in the next four years. Earlier this season it was confirmed that investment group Apollo Sports Capital (ASC) had become majority shareholders, but the power structure and leadership at the club was maintained.

ASC are believed to have spent more than €1b on becoming the majority shareholders at Atletico, reducing the shares of Cerezo and CEO Miguel Angel Gil Marin. The family of the latter, whose father was former owner Jesus Gil, has been in charge of the club for the last three decades. On announcing the takeover though, it was revealed that Cerezo and Gil Marin would be maintained in their positions, and would continue to run the club to all intents and purposes.

Cerezo reveals agreement to leave Atletico Madrid

During an interview with Cadena Cope, Cerezo has now revealed that there is an agreement in place for a handover of power, ‘within three or four years’. “We cease to be presidents and we leave, peacefully, after forty-odd years, I think that’s enough,” he explained.

“We are going to continue along the same path; we have a mandate to fulfill for the next three or four years, and I really believe that we are going to continue along the same lines, which have served us very well. [During that period, we will have] the same powers that we have up to this point.”

It represents the first major change under the new management, albeit some time away. Interestingly, it recently emerged that Atletico were hoping to extend the contract of Diego Simeone beyond his current deal until 2027. It may be that Cerezo and Gil Marin are keen to see out their tenure with Simeone at the helm.

OFFICIAL: Marc Pubill has been named Atlético Madrid Player of the Month in December. pic.twitter.com/paSiyZYYQw

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Julian Alvarez future at Atletico Madrid

Cerezo has been defiant and decisive on the future of Julian Alvarez on several occasions this season, and again reiterated that he would be remaining at Atletico Madrid. That is despite supposed interest from Barcelona.

“I’m very calm about Julian. It’s normal that big clubs are interested in Julian. But we worked hard to get him, and he’s very happy.”

Cerezo reacts to Inaki Williams comments

Earlier in the day, Athletic Club captain Inaki Williams had criticised the decision to host the Spanish Supercup in Saudi Arabia. Cerezo saw little issue with it.

“I wouldn’t say it’s ‘s**’. I would say that we’ve given our consent for it to take place there. If we want to have all of this, then we will have to play where the real money is and where they pay the real money.”

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