A.GAIN agrees majority takeover of Real Zaragoza
A.GAIN has formalised an agreement to take majority ownership of Real Zaragoza, with a proposed capital increase set to give the investment platform a 60% stake in the Spanish club.
Real Zaragoza has formalised an agreement making A.GAIN its majority shareholder, as the Spanish club seeks financial stability following relegation to the third tier for the first time in its history.The transaction, initially announced in July, will be submitted for ratification at the club’s ordinary general meeting in December. A capital increase planned for the same meeting would raise A.GAIN’s holding to 60%, with existing shareholders Juan Forcén and Jorge Mas jointly retaining the remaining 40%.Real Zaragoza said: “The new shareholding structure forms a strategic alliance that seeks to bring together the necessary capabilities to strengthen the club’s stability and ensure sporting competitiveness, in line with the demands of an organisation of Real Zaragoza’s magnitude and in accordance with the expectations of one of the most important fan bases in the world.“The project maintains a long-term commitment, with special attention to youth academy development, fostering talent, and working hand in hand with the fans and the wider community of Zaragoza and Aragón.”A.GAIN, which operates across technology, sport and entertainment, sits within global asset manager IDC Network. Its existing football interests include stakes in Atlético de Madrid, Leeds United and Deportivo Cali.Mas, the managing owner of Inter Miami, has served as Zaragoza’s president since the Real Z LLC ownership group acquired the club in 2022.The agreement comes with Zaragoza facing significant infrastructure commitments alongside the challenge of rebuilding in Primera RFEF.According to El Diario, the club owes €24 million to La Nueva Romareda SL, the company delivering its new stadium. The redevelopment is being financed primarily by Zaragoza City Council and the Government of Aragón.Originally scheduled for completion in June 2027, the project is now expected to be finished in 2028 at the earliest. Infrastructure group OHLA was appointed to lead construction in December 2024, with the design developed by architecture firm IDOM.The redevelopment will increase capacity from approximately 33,000 to 43,184, including 2,295 hospitality seats. Nueva Romareda is also among Spain’s candidate venues for the 2030 FIFA World Cup, which the country will co-host with Portugal and Morocco.Zaragoza is currently playing at the 20,071-capacity Ibercaja Estadio, which opened in July 2025 as Spanish football’s first modular, demountable stadium. The club’s takeover announcement did not address the permanent stadium project or its outstanding contribution.Setting out its ambitions under the proposed ownership structure, the club added: “With this agreement, Real Zaragoza moves forward in consolidating a new institutional phase, with the aim of strengthening the club’s bond with the Zaragoza fans, the city and the region, and laying the foundations for sustainable growth that will allow Real Zaragoza to regain the sporting place that corresponds to its history.”