(Nov 10): Apollo Global Management Inc has bought a majority stake in Atlético de Madrid, joining a growing number of private equity funds taking control of famous football teams.
The takeover is the first major deal for the US private equity giant’s new US$5 billion sports fund. The financial terms weren’t disclosed in a statement announcing the news on Monday. The deal values the club at €2.2 billion, according to people familiar with the matter who couldn’t speak publicly about the transaction.
Atlético Madrid is mainly owned by Atlético Holdco, a vehicle in which chairman Enrique Cerezo, chief executive officer Miguel Ángel Gil Marín and Ares Management are invested. Quantum Pacific also owns a stake in the club.
Gil Marín and Cerezo will remain as CEO and president, respectively, maintaining their ownership stakes and leadership roles. Ares will also continue as a minority investor, according to a statement.
The fast-growing sports finance sector is attracting investment managers who are seeking returns via a number of strategies, such as investing in teams and structured lending. Fund managers including Clearlake Capital, Oaktree Capital Management and RedBird Capital Partners own controlling stakes in Chelsea FC, Inter Milan and AC Milan respectively.
Firms like Arctos Partners, CVC Capital Partners plc, and Sixth Street have also been actively investing in sports leagues and teams. Apollo has already provided loans to football teams including Sporting Lisbon and Nottingham Forest, and has held talks with Mexico’s soccer league to finance an initiative that would help sell the league’s television rights.
See also: Juventus FC gets almost €98m in share sale
A key part of the Atlético deal will be the construction of Ciudad del Deporte, an ambitious new sports and entertainment district next to the Riyadh Air Metropolitano stadium. The transaction remains subject to regulatory approvals and is expected to close in the first quarter of 2026.
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