Posted by Joseph Zucker

You only have to take one look at Atletico Madrid’s new shirt to notice a gaping hole. It is, of course, the lack of a shirt sponsor after Kia Motors announced it would not renew its contract to remain the main sponsor for the club. Perhaps the writing had been on the wall for the company back in 2007. It was then that the club had upset Kia by not following the part of the contract stating that players would drive Kia automobiles to and from training. With cars given to each player free of charge, it was only captain Maxi Rodriguez who had adhered to the agreement. Maybe it wasn’t a decision that had been made 4 years ago. It could be the fact that the car company simply didn’t want to pay Atletico almost €10 million a year with the economy the way it is.

Either way, that is a lot of money the club has yet to replace. The owners themselves have confirmed the debt of Atletico stands at around €183 million, which of course pales in comparison to their Madrid neighbors. Real Madrid, however, are the second richest club in the world and generate the most revenue of any football club. Atletico literally cannot afford to simply leave the front of its shirt blank. It may look better for the traditionalists, especially with the club celebrating 100 years of wearing its red and white color combination, but unfortunately for those traditionalists, football is now run by the almighty dollar.

The fact the the front of the shirt remains blank is rather confounding to me. This is a club that is a little over one year removed from winning the Europa League and are the current holders of the UEFA Super Cup. They play in the Spanish capital, which regardless of who their neighbors are, means their support is strong. Last season, Atletico had the third highest attendance in La Liga. And in 2014, the club will move from the Vincente Calderón and into the newly renovated Estadio La Peineta. Liverpool, a club very similar to Atletico in terms of backroom drama, financial difficulties and lack of recent success, was able to lock up a 4-year, £80 million sponsorship with Standard Chartered. And that was under the ownership of Tom Hicks and George Gillett.

The fact of the matter is, Atletico Madrid is in a situation where sponsors should be banging on the door for an opportunity to be front and center on the club’s kit. Instead, there are reports where online dating site Ashley Madison has offered €3 million to be the shirt sponsor. For those who don’t know, the site brags “the most recognized name in infidelity” and has the motto: “Life is short. Have an affair.” It is of course highly unlikely that they will end up on the shirt, but with the management of Atletico, you never know. While any type of deal that Liverpool inked is unattainable, it shows that a club with history and support can find good deals somewhere.

Club President Enrique Cerezo has stated the value of the sponsorship to be in the range of €5-8 million. Apparently, no one has met that valuation. It’s understandable that the board would want to hold out for what it feels is fair. You don’t want to see the club agree to a deal that years down the road looks like a pittance. On the other hand, by holding out, money is being left on the table. With the club’s financials the way they stand, Atletico has no option but to sell its best players. With a lack of sufficient revenue, those players would be sold at an increased rate for a quick profit. Someone like Sergio Aguero might spend three years at the club, instead of five, and receive half the transfer value of his £35 million move. La Liga is essentially a two-team league, and the only competition for the rest of the clubs is to qualify for the Champions League. In order to that, Atletico needs to maximize its profits. With a large blank space on the shirt, though, there will be an equally large space on the revenue book.