MADRID (AP) — Atlético Madrid will soon be under American ownership.
Atlético announced on Monday that asset management company Apollo Sports Capital will become the Spanish club’s majority shareholder early next year. Financial details were not disclosed.
The companies said in a joint statement that CEO Miguel Ángel Gil and Chairman Enrique Cerezo will remain in their positions to ensure “continuity of vision and leadership.”
Gil’s position at Atlético increases his influence in the world of football, as he is a member of both clubs’ influential executive committees. european soccer club group and UEFA.
The statement also said the deal with Atlético “is not part of a multi-club ownership strategy”.
Atlético and Apolo said: “ASC’s investment will strengthen the club’s position among football’s elite and support the club’s ambitions to deliver long-term success for its millions of fans around the world.” “As long-term investors, ASC and its existing shareholders will partner with Atlético Madrid’s management team to strengthen the club’s financial strength, sporting competitiveness and community impact.”
Apollo Sports Capital also invests in the Madrid Open and Miami Open tennis tournaments.
The company said: “We intend to invest additional capital to support the club’s long-term plans, including further investments in Atlético Madrid’s team and major infrastructure projects such as Ciudad del Deporte, the sports and entertainment district adjacent to our home stadium, Metropolitano Stadium.”
Atlético, who have been coached by Diego Simeone since 2011 and currently sit fourth in La Liga, have been crowned Spanish champions 11 times, including most recently in 2021. The team reached the Champions League final in 2014 and 2016, but lost to Real Madrid both times.
ASC portfolio manager Rob Givone described Atlético, which was founded in 1903, as “one of Europe’s great sporting institutions”.
Atlético’s previous investors included a Chinese conglomerate. Wanda sold her stock. Israeli billionaire Idan Offer’s Quantum Pacific Group.
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