ABSTRACT
Case Summary Club Atlético de Madrid (ATM) stands for a set of very specific values shared among its supporters and management, which markedly differentiate it from other clubs including Real Madrid, its eternal rival. This case serves discusses the nature of internationalization in the light of these values: What does the internationalization mean for the club and its supporters, how does the intent and its actual strategic positioning fit, what kind of resources should be fostered for the internationalization purpose, etc.? Last but not the least, is such internationalization unavoidable or is it a fad for football clubs?
