The investment fund Apollo Sports Capital is the new majority shareholder of Atletico Madrid, the Spanish football league announced.
Atletico Madrid and its major shareholders, Miguel Angel Gil, Enrique Cerezo, Quantum Pacific Group and funds managed by Ares Management, have reached an agreement for Apollo Sports Capital (ASC), a global sports investment firm, to become the majority shareholder of our clubthe club announced.
The four previous main shareholders have reduced their shares in order to enable a new investor, now a larger shareholder of the club, to acquire a stake. The club announced that Miguel Angel Gil and Enrique Cerezo will continue to lead Atletico as executive director and president of the board and will remain shareholders, guaranteeing the continuity and vision of the project and their leadership.
Atletico has risen in the last 20 years or so
ASC’s investment will strengthen the position of our club among football’s elite and support our ambition to achieve long-term success for millions of our fans around the world. Shareholders plan provide new capital in order to support the club’s long-term plans, including further investments in the team, and major infrastructure projects.
This includes the development of the City of Sports, a new sports and entertainment center next to the Riyadh Air Metropolitan Stadium. The goal of this project is to become a world destination for sports, leisure, culture and social activitiesit is added.
The price of the club was between 2.5 and 3 billion euros
Financial details of the deal have not been disclosed, and market estimates of Atletico’s value range between 2.5 and 3 billion euros, based on recent financial results, valuable land assets and consistent participation in the Champions League over the past 13 seasons.
It’s Apollo fast growing, global company for property management. According to the latest figures, Apollo has approximately $908 billion in assets under management.
(Hina | Photo: X)
