Atletico Madrid in Talks to Sell Majority Stake to Apollo Global Management

LONDON, Sept 19 (Reuters) – Atletico de Madrid is in advanced negotiations to sell a majority stake in the prominent Spanish soccer club to U.S.-based private equity firm Apollo Global Management, according to sources familiar with the discussions.

The potential deal, first reported by Spanish publication Expansion, could value the club at approximately 2.5 billion euros ($2.9 billion). Apollo aims to gain control by purchasing shares held by CEO Miguel Angel Gil Marin and Chairman Enrique Cerezo. There are also indications that shares from investment fund Ares Management may be included in the transaction.

Although Apollo may not secure a majority stake immediately, sources suggest it is expected to achieve full control later in the process. Management continuity is anticipated, with the current owners possibly retaining some of their holdings.

This sale would represent a significant move into sports for private equity firms, attracted by their steady revenue streams. The three main investors currently own around 70% of Atletico through Atletico Holco, with the remainder owned by Quantum Pacific, a shipping and energy group.

A representative for Quantum Pacific was not available for comment. Meanwhile, both Apollo and Ares Management declined to provide statements.

The negotiations come amid Atletico’s announcement that it would require a capital increase of at least 60 million euros to invest in its squad and fund sports and leisure projects around its Metropolitano Stadium in Madrid.

Apollo Global Management, listed on the New York Stock Exchange and managing over $800 billion in assets, is preparing to launch a $5 billion sports investment vehicle, indicating its serious interest in the sports sector.

Market research by consultancy firm PwC estimates that the global sports sponsorship market is set to reach $115 billion in 2025, possibly exceeding $160 billion by 2030, highlighting the lucrative potential of sports investments.

As negotiations continue, the stakes remain high. While sources express optimism, they caution that a deal is not assured and discussions could falter. Atletico’s owners have not publicly commented on the talks.