Atletico Owners in Talks With Apollo Over Majority Stake Sale

Reports suggest that Atletico Madrid could soon have a new controlling investor as US private equity giant Apollo Global Management enters advanced negotiations with the club’s current owners.

Atletico Madrid, one of Spain’s most iconic football clubs, is reportedly on the brink of a major change in ownership structure. According to reports from Spanish business newspaper Expansión and other sources close to the negotiations, the club’s current ownership group is in advanced talks to sell a majority stake to Apollo Global Management, a US-based private equity firm managing more than $800 billion in assets worldwide.

If the deal goes through, it would represent one of the most significant foreign investments in Spanish football in recent years, valuing Atletico at an estimated €2.5 billion ($2.9 billion). The potential agreement comes at a time when the club is facing increasing financial pressures and looking for ways to compete with domestic rivals Real Madrid and Barcelona, who continue to outspend them on marquee signings and infrastructure upgrades.

Seeking Fresh Investment

Atletico’s CEO, Miguel Angel Gil Marin, who is also the majority shareholder through holding company Holdco, signaled earlier this week that the club was open to new investment to maintain competitiveness. Speaking at a sports and business forum partly hosted by Expansión, Gil Marin said:

“To get good results and keep the fans happy, you have to keep investing significant money in players and infrastructure. That investment has to come from outside… now we are open to a new investor coming into the ownership group.”

This statement effectively confirmed what had been speculated for months — that Atletico’s current owners were actively looking for new capital.

Who Owns Atletico Now?

Atletico’s ownership structure is split between four main partners: Gil Marin’s Holdco controls 70.39% of the club, Quantum Pacific (a British company created by Israeli billionaire Idan Ofer) holds 27.81%, while the remaining shares are divided between Ares Management and club president Enrique Cerezo.

Within Holdco itself, Gil Marin owns 50.82% of the shares, Ares Management holds 33.96%, and Cerezo has 15.22%. The complexity of this structure has made outside investment challenging in the past, but Apollo’s offer is reportedly designed to acquire a controlling interest that would streamline decision-making and inject much-needed funds into the club.

Apollo is no stranger to sports investments. The firm has built a reputation for backing high-value, high-profile assets, and is said to be planning to execute the Atletico deal through its $5 billion sports investment fund. If successful, this would give Apollo a foothold in one of Europe’s most competitive football leagues, La Liga, and a chance to participate in the growing global commercialization of the sport.

Industry experts say the €2.5 billion valuation reflects both Atletico’s global brand appeal and its growth potential. The club has consistently qualified for the UEFA Champions League in the past decade and has one of the most passionate fanbases in Spain.

Despite its strong reputation, Atletico Madrid has endured a difficult start to the 2025–26 season, currently sitting 12th in La Liga after five games. The team’s lackluster performances have added urgency to the search for fresh funds, as coach Diego Simeone looks to rebuild a squad capable of challenging for trophies again.

A major capital injection from Apollo could allow Atletico to strengthen its squad in the January transfer window and accelerate plans for infrastructure upgrades, including enhancements to the Metropolitano Stadium and training facilities.

The Bigger Picture

If completed, the Apollo deal would follow a growing trend of American investment in European football. US private equity firms and sports consortiums have increasingly sought to buy into European clubs, attracted by their global TV rights, merchandising opportunities, and long-term growth potential.

For Atletico supporters, the news is likely to spark mixed emotions. On one hand, new investment could bring financial stability and allow the club to compete at the top level for years to come. On the other hand, fans may worry about losing some of the club’s unique identity and decision-making autonomy under a foreign majority owner.

Neither Atletico Madrid nor Apollo has officially commented on the reports, but sources suggest an announcement could be made before the end of the year if negotiations proceed smoothly. For now, all eyes remain on the boardroom and on the pitch as the club enters a critical phase both financially and competitively.

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