Real Madrid are reportedly looking at changing their ownership structure and allowing outside investment to purchase stakes in the club.The Athletic report the Spanish giants are stepping up plans to make significant changes. The club are currently owned by their members, also known as socios.They are one of only four clubs that have the same structure, meaning they have a lot of power and any change would need to be approved by them.The other clubs also owned by their members are also Spanish, but Los Blancos president Florentino Perez has suggested that being owned solely by members is holding the club back in some way.In November 2024, he announced that he was considering introducing a vote on Madrid opening up to outside investment.He believes that the club can’t compete in the transfer market in the way they would like.At the time, he said: “I confirm to you that we will bring to this assembly a proposal for the club’s corporate reorganisation that clearly secures our future, protects us from the threats we face, and, above all, guarantees that we, the members, are true owners of our club, real and full owners of our economic assets.“And, of course, introducing the necessary elements so that effective control of the club always remains in the hands of its members. It will be all of us members who, in a referendum, will decide our destiny together.”Although Perez hasn’t offered much further comment on the matter, the club appears keen for outside investment despite making over €1b (£870m) in revenue during the 2023/24 campaign.The report adds Perez will present the idea at the club’s general assembly in November.One idea is to split the club into two, with the football club still being owned by the socios, and then a business side that investors would be invited to purchase shares in.Real Madrid could become totally dominant with outside investmentPhoto by Alex Caparros - UEFA/UEFA via Getty ImagesThe full details are yet to be finalised, but it does seem as if Real Madrid are moving towards a historic change.How does Real’s current model work?To be a socio, it isn’t just as simple as being a Real Madrid fan, with children and grandchildren of current or past socios the only new members allowed.There are 100,000 in total, but only 2,000 can vote in the general assembly.They are known as compromisarios and are classed as delegate members and are chosen by their fellow socios.The president is also voted in by these fans, and Perez has been the clear choice since 2009, with the compromisarios often fully backing the president in all matters.Perez could be about to shake things upWhat happens next?Should Los Blancos decide to split into two entities, it would need to be heavily scrutinised by legal professionals.Central to discussions is the socios’ desire to maintain lower prices.Given the socios are the ones who provide Perez gets his power and support, the Los Blancos boss would be wise not to fall on the wrong side of the group.But the complexities of such a vote and the implications involved should it be passed means it could be some time before all changes are enacted.