Apollo Global Management is preparing to launch a $5 billion sports investment vehicle, marking its first permanent capital allocation dedicated to the sector. The New York-based private equity giant, with more than $800 billion in assets under management, has already been active in sports, including a £80 million ($107 million) loan to Premier League club Nottingham Forest earlier this year.
The firm has also been linked to a potential stake in Atletico Madrid, in a deal that could value the Spanish soccer club at up to €3 billion ($3.5 billion). Apollo had previously agreed on an investment with Mexico’s Liga MX, though that deal ultimately collapsed.
According to the Financial Times, Apollo intends to hire new staff to lead its sports strategy, which will focus on lending to leagues and teams, as well as buying club stakes. The launch would add Apollo to a growing list of private capital players building long-term exposure to the fast-growing sports finance market.
Rival CVC Capital Partners is reportedly working on refinancing its €9 billion ($12.1 billion) portfolio, which includes LaLiga, Ligue 1, the Women’s Tennis Association, and rugby’s Premiership and Six Nations. CVC also sold a majority stake in Indian Premier League franchise Gujarat Titans earlier this year for about $567 million. Meanwhile, Ares Management is said to be weighing a new sports and media fund, building on its existing holdings in Atletico Madrid, Inter Miami, the Miami Dolphins, and Chelsea FC.
Source: SportsPro
