Atlético Madrid CEO Miguel Ángel Gil said that his club "could not compete at the top level without the help of third-party investment funds," while maintaining no outside party has "ever forced" his team to sell a player "against their own will," according to Dermot Corrigan of ESPN. In the last three seasons, Atlético has "won the La Liga title, the Copa del Rey and Europa League, and also reached the Champions League final." The club has "simultaneously been battling against debts" which reached more than €500M ($636M) including tax arrears which have been "reduced recently but still total" around €80M ($102M). Atlético's on-pitch achievements have "come about thanks at least in part to support from sources as diverse as Portuguese agent Jorge Mendes, the Azerbaijani government, Singapore businessman Peter Lim, and most recently Chinese billionaire Wang Jianlin and English advisor Peter Kenyon." Gil said that "this global search for resources had been necessary for Atletico to be successful." Gil: "We have used investment funds, I believe we were the first. They were necessary. They have helped us to grow. If you want to compete you need resources and if you want resources these days you have to look for them abroad. The battle is to be global, as only then can you make the Champions League quarterfinals regularly and attract sponsors and money. Five years ago I began to travel all over the world looking for financing from investors. Thanks to all that we can compete again and are sixth in the [UEFA] ranking." FIFA has "recently announced plans to eventually ban the use of third-party investors worldwide," but Gil said that regulating such funds would be "better for football." He said, "It is good to regulate them. I am not in favor of banning them. For the clubs which need funds to compete, like Atlético, they have been very good" (ESPN, 10/21).
