Apollo Sports Capital, the sports investment division of U.S. fund Apollo, will become the majority shareholder of Spanish football club Atlético Madrid, the club announced on Monday. While financial terms were not disclosed, a source close to the deal said the transaction values the La Liga club at around €2.5 billion ($2.9 billion), with Apollo set to acquire roughly 55% from existing shareholders.
The investment continues a growing trend of private equity firms entering global sports, drawn by the sector’s steady cash flows and commercial upside. Atlético confirmed that CEO Miguel Ángel Gil Marín and President Enrique Cerezo will stay in their positions and retain minority stakes. The deal is expected to close in the first quarter of 2026.
Sources told Reuters in September that Apollo was seeking to take control by buying portions of shares held by Gil Marín, Cerezo, and potentially investment fund Ares Management. Before the transaction, Atlético HoldCo controlled about 70% of the club, with Gil Marín, Ares, and Cerezo owning 50.8%, 34%, and 15.2% respectively, while Quantum Pacific held 27.8%.
Jim Miller, Co-Head of Ares Sport and a board member of Atlético HoldCo, said the firm was “pleased to remain a minority investor and continue offering strategic support” as the club builds on its success. Apollo was advised by A&O Shearman, while ECIJA represented Gil Marín and Cerezo.
Source: Reuters
