Apollo Sports Capital Acquires Majority Stake in Atletico Madrid

Apollo Sports Capital, a U.S. fund's sports investment arm, is set to acquire 55% of Spanish football club Atletico Madrid by March 12. The deal, valued at €2.5 billion, will make Apollo the majority shareholder. Neither Apollo nor Atletico Madrid provided immediate comments.

In a significant acquisition, Apollo Sports Capital, the sports investment division of U.S. fund Apollo, is poised to acquire a 55% stake in Spanish football giant Atletico Madrid. The deal is expected to finalize by March 12, according to a report by the Spanish newspaper Expansión.

While Apollo declined to comment on the acquisition when approached by Reuters, a source revealed that the agreement will value the elite football club at approximately €2.5 billion ($2.88 billion). As this development unfolds, it cements Apollo's status as the majority shareholder.

Atletico Madrid has yet to respond to inquiries regarding the transaction. This move marks a significant expansion of Apollo Sports Capital's footprint in the sports industry, reflecting the growing trend of investment firms venturing into sports franchises.

(With inputs from agencies.)