Real Madrid investment proposal could face November assembly

Real Madrid could put a restructuring of its commercial business before members at its November 21 general assembly, with a reported proposal to move operations into a subsidiary that could be opened to private investors.The proposal would build on president Florentino Pérez’s previously outlined plan to introduce external capital through a company owned by the club, although the assembly agenda has not yet been published.The latest report claims the structure under preparation would go further than the minority investment discussed last year, potentially making the entire subsidiary available for acquisition.That account does not establish that Real Madrid itself is being sold, that an investor has been selected or that members have approved any change to the club’s ownership arrangements.The distinction between ownership of the member-controlled club and ownership of a company holding its business operations would be central to assessing any formal proposal.At the November 2025 assembly, Pérez advocated establishing a subsidiary in which an external investor could acquire 5%, discussing a potential valuation of up to €10bn.Real Madrid subsequently renamed an existing company Real Madrid Madridistas SL in June, with the club retaining full ownership and chief executive José Ángel Sánchez serving as its sole administrator.The reported preparations involve financier Anas Laghrari, Pérez’s son Eduardo Pérez and Bernd Reichart, who has joined the club to oversee business activities including stadium operations, sponsorship and merchandising.Laghrari is a founder of Key Capital and co-founder of A22, the company behind the proposed European Super League, while Reichart has led A22 since October 2022.The report attributes a leading role in developing the proposal to the three men, but the precise assets, investment terms and governance arrangements have not been set out in a published assembly document.Any transfer of revenue-generating operations would raise questions about how income reaches the club, what rights an investor receives and which decisions remain reserved for members.A minority investment and a sale of the whole operating subsidiary would have substantially different implications, making the scope of the eventual proposal particularly important.The forthcoming agenda and supporting documents would need to establish whether members are being asked to authorise a restructuring, approve external investment or endorse a specific transaction.Until those details emerge, the reported plan remains a prospective change to Real Madrid’s business structure rather than a completed sale or an approved transfer of control.