Apollo to Take Majority Stake in Atlético Madrid

Apollo Sports Capital announced Monday an agreement to become the majority stakeholder of Spanish Soccer club Atlético de Madrid S.A.D. Quantum Pacific Group and alternative investor Ares Management Corp. will remain as minority shareholders.

The transaction is expected to be completed in the first quarter of 2026, subject to regulatory approval.

Under the terms of the agreement, Atlético Madrid, which plays in Spain’s La Liga, will retain its senior management: Miguel Ángel Gil will continue to serve as the club’s CEO, and Enrique Cerezo will continue to serve as its president, and both will continue to be minority shareholders.

The transaction will provide the club with capital to support long-term plans, including the Ciudad del Deporte infrastructure project, a sports and entertainment district adjacent to the club’s Madrid stadium.

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“Looking ahead, together we see significant opportunity to drive strong, sustainable growth of Atlético de Madrid as we build on our remarkable legacy,” Gil said in a statement. “It was important to me to select a long-term investment partner who believes in our strategy and can enhance our activities off the pitch with the development of Ciudad del Deporte.”

In 2021, alternative investor Ares Management acquired a 34% stake in the club for 181.9 million euros ($210.48 million at today’s exchange rate).

In September, Apollo Global Management launched Apollo Sports Capital—a platform to invest in the sports and live entertainment sector, drawing on the increasing demand for sports and sports-adjacent investments.

ASC had previously made investments in the Mutua Madrid Open and the Miami Open tennis tournaments. While the platform primarily invests in credit and hybrid opportunities, ASC’s stake in Atlético Madrid would be its flagship majority equity investment, according to the firm’s statement.

“Atlético de Madrid is one of Europe’s great sporting institutions and we are honored for Apollo Sports Capital to invest in this storied club and its more than 120-year heritage,” Robert Givone, a partner in and co-portfolio manager of Apollo Sports Capital, said in a statement. “Miguel Ángel has done a tremendous job transforming Atlético and it was important to us that we invest behind his continued leadership, in addition to investing in the team and the local community.”