Apollo Reports Plans To Acquire Majority Stake In Atlético Madrid For €2.5B

American private equity firm Apollo Global Management is in advanced negotiations to acquire a majority stake in Spanish soccer club Atlético Madrid, valuing the club at approximately €2.5 billion ($2.94 billion). The deal would involve buying shares from current major stakeholders including CEO Miguel Ángel Gil Marín, president Enrique Cerezo, and investment funds Ares Management and Quantum Pacific, who would remain minority shareholders. Apollo's acquisition is part of a broader plan that includes a capital increase to finance the club's ambitious Ciudad del Deporte project, a $5 billion development featuring training grounds, swimming facilities, and commercial sites adjacent to the Estadio Riyadh Air Metropolitano. While Apollo may not immediately secure a majority stake, it is expected to gain control in later stages, with current management likely to remain. This move reflects private equity firms' growing interest in sports due to stable revenue streams, with Atlético Madrid aiming to boost revenues beyond the field through significant investments. The talks carry some uncertainty, as sources note the deal is not guaranteed and negotiations could still fall apart.