Article by Daniel Grigore – Published Monday, November 17, 2025, 8:44 p.m. / Updated Monday, November 17, 2025, 8:46 p.m.
Florentino Perez plans to sell between 5% and 10% of Real Madrid to an outside investor. The proposal will be tabled during the General Assembly scheduled for November 23.
What Florentino Perez suggested since last year, from the previous ordinary General Assembly of the Real Madrid club, is taking shape. The president of the vice-champion of Spain wants to open the doors for foreign investment and thought of a formula that would keep the current structure, with decisions still up to the members.
In short – Real Madrid would not become a joint-stock sports company (SAD), but would establish a new companythrough which interested investors take the equivalent of 5 to 10% of the shares. The amount paid will determine the total value of the club, which Perez estimated at more than 10 billion euros last year.
In other words, if the 5 percent will be sold for 500 million euros, that would confirm the total value of the club at 10 billion.
The mechanism by which Florentino Perez would “give up” 5-10% of Real Madrid
According to El Pais, Perez is looking to retain control of the club through distributing the club's assets in equal proportions among the almost 100,000 members (last year there were 95,612 confirmed members).
The definitive number of shares would be fixed at the time of approval of the plan and to be equal to the number of club members at that time. These participations are different from classic shares in commercial companies, a kind of personal membership rights. They can ONLY be sold between members and no one can hold more than one share.
Basically, the number of holdings will remain the same even if Real Madrid adopts new members in the future, but their holders may change following transactions on this internal market.
It is a complex mechanism, through which Florentino Perez wants to open the door to outside investment, but to keep power in the socios, keeping the traditional member-owned club structure.
What would investors gain? They would be entitled to 5-10% of the club's economic rights, in proportion to the package boughtbut would not have executive power, voting rights or any say in the General Assembly.
The plan will be debated on Sunday, November 23
Florentino Pérez will present this plan on November 23, during the ordinary General Assembly. The actual referendum, in which it will be voted on, has not yet been scheduled: to begin with, it is necessary for the Assembly of Representatives to convene it.
The club's statutes stipulate that a referendum is mandatory in cases of “transformation, merger or dissolution”, situations in which it is necessary that the absolute majority of all partners with voting rights – not 50% + 1 of the voters, but 50% + 1 of the total eligible members – to vote for.
But it is not clear whether the proposed reform falls legally into the “transformation” category, since Real Madrid does not become a joint-stock sports companyso the threshold required for voting remains uncertain for the time being.
