Michael Clark Varela
Michael Clark | |
|---|---|
| Head of Azul-Azul | |
| Assumed office 1 October 2021 | |
| Preceded by | Cristian Aubert |
| Personal details | |
| Born | |
| Alma mater | Pontifical Catholic University of Chile (B.Sc) University of California (M.Sc) |
| Profession | Economist |
Michael Clark Varela is a Chilean business executive. He is the current president of Azul Azul S.A., a Chilean joint-stock company that manages the professional football club, Universidad de Chile, under a concession agreement with the proper university.[1]
During Clark’s tenure, Azul Azul has been the subject of public discussion in Chile regarding the governance and regulation of professional football clubs operated by private companies.[2][3][4][5]
Education and career
Clark studied Business Administration at the Pontifical Catholic University of Chile (PUC). He later completed a Master of Business Administration (MBA) at the University of California in the United States.[6]
Clark began his professional career in finance at the Chilean branch of the BBVA, where he worked for approximately seven years in the Corporate & Investment Banking division. During this period, he held roles progressing from associate to vice president and director, focusing on corporate finance and capital markets.[6]
In 2011, Clark joined Penta Bank, where he led the «Debt Capital Markets» area for around four years, participating in structured finance and debt issuance activities in the Chilean market.[6]
After leaving Penta, Clark founded Redwood Capital, a financial advisory firm, where he served as chief executive. Through Redwood Capital, he provided advisory services related to investment and financing, including engagements connected to professional football organizations in Chile.[7]
Clark later served as a director of Sartor Administradora General de Fondos (Sartor AGF), a regulated Chilean investment fund manager.[6]
Azul Azul S.A.
On 21 October 2021, Clark assumed the presidency of Azul Azul S.A.,[8] a Chilean sports company that operates the professional football team of Universidad de Chile since 2007. Azul Azul manages the club’s professional football activities through a concession agreement with the University of Chile, which retains ownership of the club’s name and symbols.[7]
On 18 November 2025, the Chilean Financial Market Commission (CMF) imposed administrative sanctions on directors of Sartor AGF, including Clark, in connection with regulatory breaches identified by the authority. The CMF ordered a fine of 65,000 UF and a five-year disqualification from serving as a director or principal executive in entities under its supervision.[9][10] Following the CMF decision, Clark stated publicly that he disagreed with the ruling and announced that he would pursue available legal remedies, while confirming that he intended to continue serving as president of Azul Azul.[11]
Representatives of the University of Chile stated that the institution would review its agreement with Azul Azul regarding the use of the university’s name and symbols.[12]
References
- ^ "CMF inhabilitó por cinco años a Michael Clark y aplicó millonarias multas". Cooperativa.cl. Radio Cooperativa. 18 November 2025. Retrieved 27 January 2026.
- ^ "Rectora de la Universidad de Chile le golpea la mesa a Michael Clark: "Vamos a tener que revisar nuestro acuerdo con Azul Azul"". La Tercera. 19 November 2025. Retrieved 27 January 2026.
- ^ "Los tenedores comentaron las sanciones impuestas por la CMF a Michael Clark y dialogaron con el senador Matías Walker". ADN Radio Chile. 19 November 2025. Retrieved 27 January 2026.
- ^ ""El que coloca el precio debe dar explicaciones": Marcelo Díaz emplaza a Clark por alto valor de entradas en la U". RedGol. 27 January 2026. Retrieved 27 January 2026.
- ^ "La cronología, explicación, detalles y pasos a seguir del caso Michael Clark en La U". TNT Sports. 18 November 2025. Retrieved 27 January 2026.
- ^ a b c d "Quién es Michael Clark, el controlador de la U de Chile, y por qué se encuentra bajo la lupa de la CMF". Ex-Ante. Ex-Ante. 18 November 2025. Retrieved 27 January 2026.
- ^ a b "Quién es Michael Clark, el empresario que llegó a la U". AS Chile. Diario AS. 8 November 2021. Retrieved 27 January 2026.
- ^ "Michael Clark asume como presidente de Azul Azul tras la renuncia de Cristián Aubert". CNN Chile. 1 October 2021. Retrieved 27 January 2026.
- ^ "Estas son las enormes multas de la CMF a Michael Clark y los directores". Cooperativa.cl. Radio Cooperativa. 18 November 2025. Retrieved 27 January 2026.
- ^ "CMF sancionó a directores de Sartor AGF, incluido Michael Clark". CNN Chile. CNN Chile. 18 November 2025. Retrieved 27 January 2026.
- ^ "Michael Clark apelará a la histórica sanción de la CMF y descarta su salida de la presidencia de la U de Chile". La Tercera. Copesa. 18 November 2025. Retrieved 27 January 2026.
- ^ "Casa de estudios presiona a la U tras sanción CMF a Clark: "Vamos a tener que revisar el acuerdo"". BioBioChile. Radio Bío-Bío. 20 November 2025. Retrieved 27 January 2026.