According to various reports citing sources close to the deal, Atletico Madrid’s owners are currently in advanced talks to sell a majority stake in the Spanish football team to US private equity firm Apollo Global Management.
When contacted by AFP, both Atletico and the American company both declined to confirm the reports.
At a sports and business event on Tuesday, which was partially hosted by Expansion, Atletico CEO Miguel Angel Gil Marin stated, “You have to keep investing significant money in players and infrastructure to get good results and keep the fans happy.”
“We are open to a new investor entering the ownership group,” the statement states. “That investment has to come from outside.”
According to Spanish newspaper Expansion, Apollo plans to purchase some of the shares from the four current partners.
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The current owners are Gil Marin, Enrique Cerezo, Ares Management, and Quantum Pacific.
CEO Gil Marin controls 27.81 percent of Atletico, while Israeli billionaire Idan Ofer controls 27.39 percent.
Gil Marin owns 50.82 percent of Holdco’s shares, while Cerezo owns 15.22 percent and Ares Management owns 33.96 percent.
According to Expansion, Apollo values Atletico at 2.5 billion euros ($2.9 billion).
Apollo, who is listed on the New York Stock Exchange and has over $800 billion in assets, is reportedly thinking about executing the deal through a $5 billion sports investment fund.
Atletico, who won La Liga last in 2021, are currently 12th in the standings at the start of the season.
Source: Channels TV
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