The new investments of the managers of Millonarios

The owners of Millonarios expand their investments in football clubs

The Millonarios' steering committee and its shareholders are looking to broaden their spectrum of investments in international football. According to Jeison Cifuentes, for Futbolete, that together with Amber, the international investment fund managed by Joseph Marie Oughourlian, they would be interested in investing in a second division Spanish football club: Real Zaragoza. In Italy, they confirmed the purchase of the Padua club and according to information provided by César Augusto Londoño, on Caracol Radio, the group also has investments in teams such as Inter Miami and Lens from France.

Cifuentes continues: “The news, which although it shows Amber's interest in the football business, does not cause such a stir in the Ambassador environment either. The fans are rather reluctant to the issue. For them, the current leadership does not correspond to titles, putting together more competitive teams. Saying that Amber is now in a Spanish club doesn't generate much grace in them. Millionarios has been managed by this investment fund since 2015 through businessman and lawyer Gustavo Serpa, as representative of the Blas de Leso firm in Colombia.”

According to official communications from Zaragoza, this is what is known:

“Our company announces the acquisition of more than 51% of the S.A.D.'s share capital by a group of investors, who have extensive experience in the world of football and in the management of clubs worldwide such as Inter Miami (USA). (USA), Racing Club de Lens (France) and Millionarios FC (Colombia). This group is made up of several investors, including brothers Jorge and José Mas Santos, Joseph Oughourlian, Gustavo Serpa, Jim Carpenter and Jim Miller. The agreement is subject to two suspensive conditions: Real Zaragoza's stay in LaLiga SmartBank this season and the authorization of the operation by the Higher Sports Council”.

Amber Capital is an investment fund founded in New York around 2005. In 2012, they moved to London and began to expand their offices to other destinations: first Italy and then France. Currently, they invest in several European countries and own shares in several Italian companies. They qualify as activists and seek to influence the corporate strategies of companies, encouraging people to buy or sell assets at certain prices and, in some cases, to reform their governance. The firm is particularly known for having obtained the general management of Nexans, in 2014, following the departure of Frédéric Vincent.

Between 2019 and 2020, they achieved the governance of the Lagardère company, and at the beginning of 2020 they became its largest shareholders. The campaign was particularly publicized by Oughourlian. In several of the communications he criticizes the management of Arnaud Lagardère, accusing him of causing considerable losses in the valuation of the company. In May of that year, Amber Capital requested the removal of Lagardère and proposed the appointment of Patrick Sayer as its president. The proposals were rejected by the shareholders, which allowed Arnaud Lagardère to obtain an encore.

That same year, a little earlier, after the stock market crash, Amber Capital declared that it managed around 1.1 billion euros in assets. This turnover, according to Le Monde, does not make it a large investment fund, but rather a “small, active and respected boutique”.

So, for the fans of Millonarios, this news doesn't make much difference, not as long as the team doesn't achieve the objectives. So far, the club's president, Enrique Camacho, has not spoken about how these investments benefit the smooth running of the club.

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