Real Madrid could discuss ownership model at November 21 meeting

Real Madrid is due to hold its delegates’ general assembly on November 21, with a possible change to its ownership model expected to be discussed. Club president Florentino Pérez plans to convene the meeting, where the integration of Bernd Reichart into the club’s administrative structure is also expected to come up. The ownership question could be debated, but no decision has been confirmed.

The issue is sensitive. A few months ago, during the latest election campaign, the board chaired by Pérez opened the way for a vote on changing the ownership model. Enrique Riquelme received the backing of 35% of Real Madrid members in that campaign. One option under consideration would transfer some assets to a limited-liability company controlled by the club.

The assembly could also revive a proposal Pérez raised two seasons ago. He had said he wanted to discuss structural changes at an extraordinary general assembly, which was never held. The official agenda has not yet been announced. Such meetings usually include approval of the previous year’s accounts, the following year’s budget and the board’s financial report.

Florentino Pérez had also discussed putting a limited share of the company’s shares on the market, with two investor partners contributing one billion euros in total, or 500 million each. The potential investors have not been confirmed. Names have circulated, but they do not amount to an official announcement.

The prospect has drawn opposition from Real Madrid supporters who object to what they call a “sale of the club” through structural changes that would allow investors to enter. Pérez had previously said those partners would not have decision-making power. Even so, some supporters and members fear the move could mark the beginning of a transformation into a public limited sports company.

The meeting could also address negotiations with the Union of European Football Associations, the club’s next steps in the Negreira case, a technology-zone project and plans for concerts at Santiago Bernabéu from 2027. Reichart, a former chief executive of A22 Sports Management, promoter of the European Super League project, is to manage product-related operations at the club.

The stadium schedule provides another marker: Real Madrid is not due back at Santiago Bernabéu before November 21, when it hosts Celta Vigo. Its previous match at the venue was against Leipzig on October 21. In the meantime, the club won 2-1 at Camp Nou last Sunday and is due to face Racing Santander in Santander on Sunday, Athina on November 4, then Valencia at Mestalla on November 7. The period also includes an international break and another American football league match at Santiago Bernabéu.