Alas, Atletico would go on to win the clash, via a rather feeble penalty shootout which saw Henrikh Mkhitaryan, Joe Willock and Edward Nketiah all miss for the Gunners before goalkeeper Antonio Adan fired home to seal the victory for Atletico.
The Welshman is deliberating over whether to pen a five-year contract despite becoming a fans' favourite during his time with the club.
"As soon as I came to Arsenal I felt the warmth of this team".
He said: "It's always nice to play with your old team-mates, with Aubameyang and Sokratis".
Gazidis has been at Arsenal since January 2009 and played a pivotal role in reshaping the club, most notably by overseeing the departure of Arsène Wenger as manager and the installation of a team around him that includes Raul Sanllehi as head of football relations, Sven Mislintat as head of recruitment and Emery as head coach.
Ramsey wore the armband for Arsenal in their preseason friendly against Atletico Madrid on Thursday before being taken off 60 minutes into the 1-1 draw, with the Gunners then losing on penalties.
"When I arrived here, the first meeting was with Ivan".More news: United States won't recognize Crimea annexation; next Trump and Putin meeting delayed
Youngster Smith Rowe scored a superb solo goal to equalise for Arsenal a minute after the break. "But Aaron has the condition to be one of the captains".
"I think this is the moment for the young players to show quality like Emile did", he added. I'm very happy with his work on the pitch but it's not only today, it's every day.
Arsenal's Emile Smith-Rowe celebrates scoring their first goal.
"I don't know, maybe something was wrong or something was not the way I wanted, but it's life and it keeps going".
Former Real Madrid and Real Betis keeper Adan is expected to understudy first choice Jan Oblak, with Simeone telling the postgame news conference at Singapore's National Stadium that the 31-year-old was settling in very well at his new club.
"He is starting today because his performances are good in each training session", said Emery.