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, for example 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.