Real Madrid's "less glamorous" neighbor is competing with Europe's elite and has "plans to go global," according to Simon Kuper of the FINANCIAL TIMES. Last year Atlético Madrid reached the Champions League final, "pinnacle of European club football," against Real Madrid. But now Madrid's second club hopes to establish itself at "football's summit based on more than just thunder." Atlético is on a "quest to tap the world's resources while remaining unmistakably Atlético." A "homely club" is going global. Atlético's modern history begins with the "fat, loud-mouthed" property developer Jesús Gil. Gil became president of the club in '87. From then until his burial in '04, in a coffin wrapped in an Atlético flag, "he often loomed larger than the club." Today Atlético's CEO is Gil's son, Miguel Angel Gil Marín. Miguel and his family own 57% "of Atlético's shares." Gil’s "main occupation" is finding funds for Atlético. However, in economically stricken Spain, what corporate money there is "usually goes to Real or Barcelona." For years, Atlético "funded themselves with debt." University of Barcelona Economist José María Gay de Liébana calculated that by '10, the club owed €452M. Nearly "half of that was unpaid taxes." Gil: "Atlético decided to leverage with the Spanish tax authorities." Fernando Torres, who rejoined the team in January, believes that Atlético is Spain's "natural third-best team." It was before, and is "again now." However, he is not confident his club can "enduringly match the best." Gil is "trying to ensure they can." His project resembles what many English clubs did in the '90s: "find foreign investors, build a swish new stadium, and generally boost revenues." No wonder he has "sought advice from Peter Kenyon, who is synonymous with English football’s commercialization." Atlético’s "quest for funds is global." In January Wang Jianlin, "China’s richest man," bought 20% of Atlético for €45M. Azerbaijan’s "unlovely regime" pays to put “Azerbaijan -- Land of Fire” on the team shirts. And Atlético joined with Indian investors to create Atlético de Kolkata, "reigning champions of India" (FT, 11/13).
