Apollo Acquires Majority Stake in Atlético Madrid in $2.9 Billion Deal

Apollo Global Management has struck a landmark deal in European football, acquiring a controlling stake of up to 55 per cent in LaLiga side, Atlético Madrid. The deal, announced this week, has been made through Apollo Sports Capital and values the Spanish club at roughly €2.5 billion ($2.9 billion), making it one of the largest private equity transactions ever seen in European sport.

The acquisition marks Apollo’s formal entry into football ownership and follows a series of sports-related credit and infrastructure investments by the group. Under the terms of the agreement, Atlético’s existing leadership - Chief Executive Miguel Ángel Gil Marín and President Enrique Cerezo - will retain their operational roles, ensuring continuity as the club transitions to a more globally focused ownership model.

For Apollo, the deal represents a strategic foothold in one of world football’s most commercially valuable leagues and a platform from which to expand into adjacent sports-related real estate and entertainment opportunities. Atlético is already pursuing a €800 million mixed-use “Ciudad del Deporte” development around its Cívitas Metropolitano stadium, aligning neatly with Apollo’s long-standing investment strengths.

The transaction also signals rising valuations for elite European football clubs, with financial institutions now viewing top teams as multi-channel entertainment properties rather than traditional sports assets. With steady Champions League participation, a global supporter base and a robust commercial pipeline, Atlético offers the type of brand diversification that private equity increasingly seeks.

For European football more broadly, Apollo’s arrival further validates the shift toward institutional ownership. It places Atlético alongside clubs such as Chelsea and AC Milan that have attracted U.S. investment at multi-billion-dollar valuations and highlights the accelerating recognition of sport as a mainstream asset class.