Real Madrid, the world’s wealthiest football club, is facing divided opinions among fans after club president Florentino Perez announced plans to allow private investors to acquire a minority stake in the 123-year-old institution. The proposed reform would enable private equity participation for the first time in the club’s history, permitting up to 10% ownership while retaining overall control under the club’s members, or socios.

Perez Outlines the Plan

Speaking to club members during an extraordinary assembly, Perez emphasized that the reform would preserve the members’ authority while creating a subsidiary to host outside investors. He suggested that the stake could be small — between 5% and 10% — and would only be offered to investors committed to the club’s long-term growth.

Perez stated, “We will continue to be a members’ club, but we must create a subsidiary in which the 100,000 members of Real Madrid will always retain absolute control.” He added that the subsidiary structure would allow the club to pay dividends to members, something currently prohibited by law.

The president also stressed that outside investors would be expected to respect the club’s values, contribute to its growth, and help protect its assets from external risks. Real Madrid would retain the right to buy back shares from investors to ensure long-term stability.

Fan Reactions: Mixed Opinions

The announcement has sparked a split among supporters. Some fans expressed concern, believing that opening up to private equity contradicts Real Madrid’s historic members-only model.

David Garcia, a former season ticket holder, said, “Perez had promised that the club would remain for members only. Now he seems to be changing that principle.”

Alejandro Dominguez, a former vice president of the Real Madrid Veterans Pena, questioned the need for additional capital, noting the club’s already dominant financial position.

Conversely, many fans welcomed the reform. Fernando Valdez, part of the La Gran Familia supporters club, said, “Five or ten percent is nothing. The club’s character won’t change, and it could even help us compete with high-spending rivals.”

Journalist David Alvarez noted that the move is not designed to compete with clubs like Manchester City but to enable the club to generate member dividends and strengthen its financial base.

Historical Context: Socios vs. Corporate Ownership

Real Madrid, along with Barcelona and a few other Spanish clubs, operates under a nonprofit, members-owned model. Founded in 1902, this structure prevents any individual or corporation from gaining a majority stake and allows the club to enjoy tax benefits.

In contrast, clubs in England or the United States, like Manchester United or Inter Miami, can be owned by wealthy individuals, corporations, or even listed on stock exchanges. Such ownership models often prioritize short-term profitability over long-term club culture, whereas Spanish clubs maintain a focus on fan involvement and tradition.

Financial Significance

Real Madrid was named the world’s wealthiest football club for the fourth consecutive year in 2025, with a market valuation of $6.75 billion, according to Forbes. The club was also the first to surpass $1 billion in annual revenue.

Spanish media recently reported that Bernard Arnault, the billionaire head of Louis Vuitton, could become a potential investor if the reform passes.

Looking Ahead

If approved, Perez’s plan could mark a historic shift for Real Madrid, blending traditional member control with modern financial strategies. While fans debate the merits, Perez insists that member rights and club identity will remain intact, ensuring that Real Madrid continues to dominate both on the field and financially.