Atletico owners negotiating with US firm Apollo over majority stake sale

Atletico Madrid’s owners are in developed negotiations to promote a majority stake of the Spanish football membership’s shares to US inner most fairness firm Apollo Global Management, in step with varied experiences citing sources shut to the deal.

Each the American firm and Atletico declined to substantiate the experiences when requested by AFP.

“To gain staunch outcomes and protect the followers chuffed, it be critical to protect investing critical money in gamers and infrastructure,” said Atletico CEO Miguel Angel Gil Marin at a sports and enterprise match on Tuesday, in fragment hosted by Expansion.

“That investment has to realize from exterior… now we are starting up to a fresh investor coming into the possession crew.”

Apollo have to purchase a part of the shares from the four fresh companions, in step with Spanish newspaper Expansion.

Gil Marin, membership president Enrique Cerezo, Ares Management and Quantum Pacific are the fresh owners.

CEO Gil Marin is the bulk shareholder of Atletico thru Holdco, a firm that has a 70.39 p.c stake, while Quantum Pacific, a British firm created by Israeli magnate Idan Ofer, holds 27.81 p.c.

Within Holdco, Gil Marin holds 50.82 p.c of the shares, while Ares Management owns 33.96 p.c, and Cerezo owns 15.22 p.c.

Apollo values Atletico at 2.5 billion euros ($2.9 billion), in step with Expansion.

Listed on the Contemporary York Stock Exchange and managing higher than $800 billion in sources, Apollo is reported to be obsessed with executing the deal thru a $5 billion sports investment fund.

Atletico, who final obtained La Liga in 2021, non-public struggled on the launch of this season and are currently 12th in the desk.

Source: AFP