Atletico Madrid valued at £2.2bn after Apollo Global Management acquisition
LaLiga club Atletico Madrid has been valued at around £2.2bn after Apollo Global Management purchased a majority stake in the Spanish team.
Chief executive Miguel Angel Gil Marin and president Enrique Cerezo will continue in post but the acquisition represents the latest private equity push into European football.
It is understood that the US fund will hold around 70 per cent of the club, with a mix of Gil, Cerezo, international investment group Quantum Pacific Group – founded by Israeli billionaire Idan Ofer – and investment manager Ares Management all remaining minority shareholders. The club has reportedly been valued at around £2.2bn, according to Reuters.
Robert Givone of Apollo said the club was “one of Europe’s great sporting institutions”, adding that 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.”
Atletico Madrid deal done
In September a number of publications reported that New York-based Apollo Global Management was planning to launch a £3.75bn investment vehicle focused on sport.
The firm lent £80m to Premier League football club Nottingham Forest while reportedly lending football agent and major horse racing player Kia Joorabchian’s Sports Invest Holdings £40m at an interest rate of 10.25 per cent.
Spanish football enjoys private equity already with CVC Capital Partners signing a deal in 2021 that would see clubs receive over $2bn in return for a less-than-10 per cent stake in the league’s broadcasting and sponsorship arm for the next half-century.
Atletico Madrid’s Metropolitano Stadium is one of the best in LaLiga, and sponsored by new airline Riyadh Air.
“Apollo is a great ally that respects the history, traditions, and identity of Atletico and its fans,” Gil Marin said. “While the investment brings additional resources and enthusiasm to help maintain our growth and competitiveness.”
Jim Miller of Ares said: “Since Ares’ investment in 2021, the Club has achieved significant success and value creation to the benefit of its community and fans. It has been an honour to commit our flexible capital and sector expertise in support of Miguel and Atlético de Madrid.
“We are equally excited to remain minority investors and continue providing strategic support as the Club builds on its momentum.”