Israeli Billionaire Idan Ofer Reportedly Agrees To Buy 15% Stake In Atlético Madrid

Israeli businessman Idan Ofer reportedly agreed to purchase a stake in La Liga club Atlético Madrid, according to Richard Martin of REUTERS. Israeli newspaper Calcalist reported London-based billionaire Ofer, estimated to be worth $2.6B, would finalize the purchase "at the end of this week." Israeli news website Ynet said that Ofer would purchase a 15% stake in the club. Atlético scheduled a news conference for Thursday to make an "institutional announcement" but did not "reveal any details." The club "could not immediately be reached for comment." Israeli trading platform Plus 500 has sponsored Atlético's shirt since '15, paying $50M over four years, according to the club’s accounts. The club, which is valued at $732M by Forbes, moved into the 67,000-capacity Wanda Metropolitano in September at a cost of €310M, according to club President Enrique Cerezo. According to Atlético's accounts as of June 30, 2016, it has a debt of €483M, with €218M revenues and "core profit" of €24.3M (REUTERS, 11/15).