Spanish giants Atletico de Madrid are reportedly in advanced negotiations to sell a majority stake in the club to Apollo Global Management, according to multiple sources familiar with the discussions. The deal, if completed, could mark one of the largest private equity investments in European football to date.
The U.S.-based firm is expected to acquire part of the holdings owned by CEO Miguel Angel Gil Marin and Chairman Enrique Cerezo, with potential purchases also coming from investment fund Ares Management. While Apollo may not initially secure a majority stake, insiders suggest full control could be achieved at a later stage. Management and day-to-day operations are anticipated to remain in place, with the current leadership retaining partial ownership.
Valuation and Strategic Ambitions
Spanish media reports indicate that the potential transaction could value Atletico Madrid at around €2.5 billion ($2.9 billion). The club has emphasized plans for a capital increase of at least €60 million, aimed at strengthening the squad and developing sporting and leisure facilities around the Metropolitano Stadium in Madrid.
This move aligns with the broader trend of private equity firms investing in sports, drawn by stable revenue streams from broadcasting, sponsorship, and commercial operations. Apollo itself is reportedly preparing to launch a $5 billion sports investment vehicle, signaling its ambition to expand in global football and other sports sectors.
Current Ownership Structure
Atletico Holco, the holding company controlled by Gil Marin, Cerezo, and other investors, owns roughly 70% of Atletico Madrid, with the remaining shares held by Quantum Pacific, a shipping and energy conglomerate. Apollo currently holds three months of exclusivity on the potential deal, running until mid-October, giving it the right to finalize investment terms.
Market Context
The global sports sponsorship market is projected to reach $115 billion in 2025, and at the current growth trajectory, it is expected to surpass $160 billion by 2030, according to PwC. This expanding financial landscape has made European football an attractive arena for major private equity investors seeking long-term returns.
While the negotiations remain private and non-binding, the potential partnership between Atletico Madrid and Apollo Global Management could usher in a new era of investment and commercial growth for the Spanish club.
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