Former Atlético Madrid striker David Villa has joined the club's revamped board of directors after investment group Apollo Sports Capital completed its majority acquisition on Thursday.
The deal, which was announced last November, was formalized on Thursday, with Apollo Sports Capital becoming the majority shareholder of the LaLiga club.
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Enrique Cerezo and Miguel Ángel Gil maintain their positions as president and chief executive, respectively, while the board of directors now includes Villa as an advisor.
Villa was part of the Atlético team that won the LaLiga title and reached the Champions League final in 2013-14 and remains the Spanish national team's all-time leading scorer. He was also at Barcelona and New York City FC in the MLS.
“I am very happy to be able to return to the club with new responsibilities, but with the same desire to continue contributing to making Atlético de Madrid even bigger season after season,” he said in a statement on the club's website.
“The club has experienced significant growth in recent years and I look forward to contributing to our continued success. I am very grateful that you have thought of me for this position.”
Cerezo celebrated Villa's return.
“This has always been your home, David,” he said. “We are delighted that you have accepted this challenge and I am convinced that, with your extensive experience, you will help us make Atlético de Madrid even stronger.”
Meanwhile, the deal also includes a capital investment of up to €100 million ($115 million) to be spent on players and facilities.
Atlético said the sum of 100 million euros would go towards its ambitious “Sports City” project, which is being built next to the Metropolitan Stadium, as well as being spent on the club's football teams.
Apollo became a minority investor in Championship club Wrexham in December.
Gil said on apollo.com: “We are proud to officially welcome Apollo Sports Capital to Atlético de Madrid as a committed long-term partner who will build our great legacy on and off the pitch for our fans, our players, coaches and staff, and our community.”
ESPN's Alex Kirkland and PA contributed to this report.
