Apollo Global Eyes Stake in Atletico Madrid

Apollo Global Management is in discussions with Atletico Madrid's lead shareholder for a potential investment. The Spanish club is undertaking an 800 million euro project, with private investors expected to cover the majority of costs. Apollo may acquire a stake in Atletico Holdco, potentially valuing the club at 3 billion euros.

U.S.-based buyout fund, Apollo Global Management, is in negotiations with Atletico Madrid's lead shareholder for a possible investment in the Spanish football club, according to insiders familiar with the discussions. Expansion, a Spanish newspaper, was the first to break the news on Wednesday.

The club is currently engaged in a substantial sport and leisure project valued at 800 million euros around its Metropolitano Stadium in Madrid. Of this, 200 million euros will be funded by the club itself, while the remaining funds are expected to come from private investors, as reported by Expansion.

Initially, discussions between the club and Apollo centered around financing for Atletico Madrid's construction project, but the U.S. fund has since expressed interest in acquiring a stake in Atletico Holdco, the main shareholder of the club. Although no official offer has been made, the potential deal could value the club at 3 billion euros. Apollo plans to secure its stake through a capital increase of Atletico Holdco.

(With inputs from agencies.)