Real Madrid is examining a plan to create a subsidiary that would allow external investors to buy a stake of around 5% in the world’s most valuable football club, president Florentino Pérez told members at the club’s annual meeting, Reuters reports. 

The proposal will require an extraordinary general meeting to amend the club’s statutes.

Pérez said the membership-owned structure will remain in place but argued that a small external stake could strengthen the club. “If someone is willing to invest significant amounts of money for a symbolic stake, this is the greatest demonstration of Real Madrid’s value,” he told members, adding that any investor must respect the club’s values and contribute to its long-term growth.

The round was led by Coatue, Greenoaks, Dragoneer, and Fidelity, with additional participation from NVentures, Andreessen Horowitz, Franklin Templeton, and accounts advised by T. Rowe Price.

The transaction included a secondary element that allowed employees to sell shares, marking the fifth time staff have been offered liquidity.

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Ermenegildo Zegna has announced a major leadership transition as the luxury menswear group strengthens its governance structure with the support of long-standing investors Investindustrial and Temasek.

Chief Executive Gildo Zegna will move into the role of executive chairman, while his sons, Edoardo and Angelo, will take over as co-chief executives of the flagship Zegna brand, which sits alongside Thom Browne and Tom Ford Fashion within the group.

The company has appointed current finance chief Gianluca Tagliabue as group CEO, effective 1 January. Tagliabue has served as CFO for nearly a decade. Gian Franco Santhià, currently group controller and chief accounting officer, will become group CFO.

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