The Board of Directors announces a revenue budget of 347.2 million euros for the 2017/18 season

On December 18, the Club Atlético de Madrid Board of Directors held its annual meeting.

On December 18, the Club Atlético de Madrid Board of Directors held its annual meeting. Thirty three shareholders, holding 98.16 percent of the share capital, which own 3,566,848 shares out of 3,633,535 were present in the meeting.

All agreements adopted by the Board of Directors were voted unanimously, with 3,566,848 votes in favor and none against. The Board approved the club's budget for the 2016/17 season, which yielded a positive operating result of 27.7 million euros, and a net profit, after taxes, of 4,99 million euros.

The Board has also approved the budget for income and expenditure for the current 2017/18 season, prepared in accordance with the criteria established by the LFP and UEFA Financial Fair Play Regulations, which is expected to reach a revenue figure of 347.28 million euros and expenses of 347.16 million euros.

The Board also approved to increase the share capital by 5,652,500 euros, by issuing 665,000 new common share. Each new share has a nominal value of 8.5 euros and a share premium of 69.5 euros per share, which represents a total of 51,870,000 euros, at a total rate of 78 euros per share.

The Board agreed to give the current shareholders preferential acquisition, but the main shareholders of the club chose not to in order to allow the entrance of Quantum Pacific Group in the club's share capital. With an investment of 50 million euros, Quantum Pacific Group was given a 15 percent share. The capital increase, which was agreed and accepted in Board of Director's annual meeting, will be executed and finalized in January.

Lastly, Antoine Bonnier, senior executive of Quantum Pacific Group, was added to the Board of Directors and Clemente Villaverde will continue on as Atlético's Executive Director.