MADRID — Atletico Madrid is set to come under American ownership. Apollo Sports Capital, an asset management company, will become the Spanish club's majority shareholder early next year, the club announced on Monday.
No financial details were disclosed. Chief executive Miguel Ángel Gil and president Enrique Cerezo will remain in their positions to ensure "continuity of vision and leadership," according to a joint statement.
Deal Details
Gil's elevated position at Atletico has increased its influence in soccer. He serves as a member of the executive committees at both the European Football Clubs group and UEFA.
The statement clarified that the deal "is not part of a multi-club control ownership strategy."
Investment Plans
Apollo Sports Capital has also invested in the Madrid Open and Miami Open tennis tournaments. The company stated it "intends to invest additional capital to support the club's long-term plans, including further investment in Atlético de Madrid's teams and in major infrastructure projects."
Such projects include Ciudad del Deporte, a sports and entertainment district adjacent to its Metropolitano Stadium home.
Club Background
Atletico, coached by Diego Simeone since 2011 and currently fourth in La Liga, is an 11-time Spanish champion, most recently in 2021. The team reached the Champions League final in 2014 and 2016, losing to Real Madrid both times.
"Atletico — founded in 1903 — is one of Europe's great sporting institutions," said Rob Givone, portfolio manager at ASC.
Previous Investors
Previous investors in Atletico have included Chinese conglomerate Wanda, which sold its stake to Israeli billionaire Idan Ofer's Quantum Pacific Group.