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Spanish giants Atletico Madrid have been valued at approximately £2.2bn following Apollo Global Management's acquisition of a majority stake in the La Liga powerhouse. Chief executive Miguel Angel Gil Marin and president Enrique Cerezo will remain in their respective roles, though the deal marks another significant private equity incursion into European football. According to City AM , the American fund will control roughly 70% of the Madrid outfit, whilst Gil, Cerezo, international investment group Quantum Pacific Group - established by Israeli billionaire Idan Ofer - and investment manager Ares Management will all retain minority shareholdings. The Spanish club has been valued at around £2.2bn, according to Reuters. Apollo's Robert Givone described the club as "one of Europe's great sporting institutions." He stated they are "excited to back the team and honour its spirit and traditions, and to add value in areas where we excel, such as growth of the [training complex] and enhancing the fan experience." "Supporting the ambitious plans for the sports city can create significant value for both the club and the local economy." In September, several news outlets reported that Apollo Global Management, based in New York, was gearing up to launch a £3.75bn investment vehicle aimed at the sports sector. The firm had previously provided £80m to Premier League club Nottingham Forest and reportedly extended a £40m loan to football agent and notable horse racing figure Kia Joorabchian's Sports Invest Holdings at an interest rate of 10.25%. Spanish football has already welcomed private equity, with CVC Capital Partners striking a deal in 2021 that will provide clubs with more than $2bn (£1.52bn) in return for a less-than-10% stake in the league's broadcasting and sponsorship arm for the next 50 years. Atletico's Metropolitano Stadium, one of La Liga's finest, is sponsored by the new airline Riyadh Air. "Apollo is a great ally that respects the history, traditions, and identity of Atletico and its fans," said Gil Marin. "While the investment brings additional resources and enthusiasm to help maintain our growth and competitiveness." Join our new WhatsApp community and receive your daily dose of Mirror Football content. We also treat our community members to special offers, promotions, and adverts from us, and our partners. If you don't like our community, you can check out any time you like. If you're curious, you can read our Privacy Notice.
