Sociedad Anónima Deportiva

Sociedad anónima deportiva ("Public limited sports company") is a special type of public limited company in Spain. The new legal status was introduced in 1990 to improve financial management and transparency in sports clubs. Many Spanish football and basketball clubs add the suffix S.A.D. to the end of their official name, e.g. Club Atlético de Madrid, S.A.D..

Every club which plays in Segunda División or Liga ACB and remains in the league is obliged to convert to S.A.D. status.

Due to historical reasons Athletic Club, FC Barcelona, Real Madrid and Osasuna were allowed to retain their status as non-commercial sports associations.

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