Atletico de Madrid owners near €2.5bn sale of majority stake to Apollo

Apollo Global Management is in advanced discussions to purchase a majority stake in Atletico de Madrid, in a deal that could value the Spanish football club at €2.5bn ($2.9bn), according to Reuters.

The US investment firm is negotiating to acquire part of the holdings of chief executive Miguel Angel Gil Marin and chairman Enrique Cerezo, with additional shares potentially coming from Ares Management.

Sources noted Apollo might not obtain majority control immediately but is expected to secure it in a later stage of the transaction.

The club’s majority owners currently control about 70% of shares through Atletico Holco, while Quantum Pacific holds the remainder. Apollo has secured three months of exclusivity until mid-October to finalise terms.

A deal would extend private equity’s growing presence in European football, drawn by stable revenues from broadcasting, sponsorship, and matchday income. Spanish publication Expansion first reported the negotiations, which insiders caution could still fall through.

Atletico has previously indicated it would require a capital increase of at least €60m to strengthen its squad and develop sport and leisure projects around its Metropolitano Stadium.

Apollo, Ares, Gil Marin, and Cerezo declined to comment.

If completed, the transaction would represent one of the largest European sports investments this year and highlight private equity’s sustained interest in top-tier football assets.