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Owning one of Spain’s biggest football clubs may soon cost someone else more than just admiration. Sources familiar with the matter say that the owners of Atlético de Madrid are in advanced negotiations to sell a majority stake in the club to U.S.-based private equity firm Apollo Global Management.
What the Deal Looks Like
- Potential Sellers & Stakeholders: The stakes up for grabs are held by CEO Miguel Ángel Gil Marín, Chairman Enrique Cerezo, and investment fund Ares Management. The club is largely owned via Atlético HoldCo, which controls about 70% of the club. The remaining ~30% is held by Quantum Pacific.
- Phased Ownership: Apollo may not take full control immediately. The reports suggest a phased acquisition, meaning the firm might initially acquire a large minority or partial majority, with plans to increase its ownership later.
- Valuation & Timing: The club is reportedly being valued at around €2.5 billion (about US$2.9 billion). Apollo currently reportedly has an exclusivity period of three months — extending until mid-October — in which to finalize the deal.
Strategic Motives and Club Ambitions
- Financial Injection: Atlético are planning a capital increase of at least €60 million to help fund squad improvements and develop sport & leisure projects around their stadium, the Metropolitano. Bringing in new partners/investors is seen as necessary for these plans.
- Private Equity in Sport: This move would add to a growing trend of private equity firms investing in sports clubs, drawn by steady cash flows from broadcasting, sponsorship, and matchday revenues. Apollo has been reported to be launching a $5 billion sports investment vehicle.
Risks, Uncertainties & What’s Not Decided Yet
Implications if the Deal Goes Through
- For Atlético: Significant fresh capital could enable major improvements — on the pitch (player recruitment, competitiveness) as well as off it (stadium/development projects). It could also shift the dynamics of club governance.
- For Apollo: It would become one of the few major U.S. private equity firms to take control (or near-control) of a top European club, expanding its sports portfolio and potentially reaping returns from a high brand with global reach.
- Broader Trend: The transaction would further illustrate how football clubs are increasingly becoming assets in global investment portfolios, not just purely sporting institutions. The balance between commercial return and sporting legacywill continue to be a point of discussion among fans, media, and regulators.
