Atlético Madrid's majority ownership up for potential sale to Apollo, claims Expansión news outlet
Atletico Madrid, one of Spain's leading soccer clubs, is set to undergo a significant transformation with American investment firm Apollo Global Management planning to acquire a majority stake in the team.
Currently, Atletico Madrid stands ahead of other Spanish soccer sides such as Villarreal, owned by Spanish billionaire Fernando Roig, and Valencia, owned by Singaporean investor Peter Lim. The club is poised to become the most highly-valued privately-owned soccer club in Spain.
The proposed investment will facilitate the development of a new state-of-the-art complex, known as the Ciudad del Deporte. This site will not only house the club's training ground but also include swimming facilities and a commercial site. The location of the Ciudad del Deporte will be alongside the Estadio Riyadh Air Metropolitano, which was opened in 2017.
The new site will be strategically located close to Adolfo Suarez Madrid-Barajas airport, expanding with the project and generating significant revenues for the soccer club beyond their usual sports field remit.
Apollo values a 100% stake in the club at €2.5 billion ($2.94 billion). The acquisition is the first step in Apollo's plans for the club, which includes a capital increase to finance the construction of the Ciudad del Deporte site.
Atletico Holdco currently controls 70.39% of the club's shares, with Miguel Angel Gil Marin owning 50.82% and Enrique Cerezo owning 15.22%. The deal involves Apollo buying shares from Atletico Holdco, Quantum Pacific, and Ares Management, with all parties retaining minority stakes.
Apollo plans to maintain current CEO Miguel Angel Gil and president Enrique Cerezo in their positions at Atletico Madrid. This summer, the club spent an estimated €176 million ($207 million) on transfer fees and brought in €68 million ($80 million) in player sales.
Among the most high-profile transfers were the arrivals of USMNT player Johnny Cardoso and 2024 Olympic gold medal winner Alex Baena. The club will contribute €200 million ($235.4 million) from the funds they received from La Liga's agreement with CVC towards the project.
Investment into the club's off-field projects is expected to follow the financial maneuver. The estimated total cost of developing the Ciudad del Deporte site is $5 billion. Talks are ongoing between the parties regarding the capital increase and the acquisition of shares.
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