Apollo Global Management is in advanced discussions to acquire a stake in Atlético Madrid, as the LaLiga club seeks fresh capital to support its €800m “Ciudad del Deporte” (City of Sports) project, according to Spanish business outlet Expansión.

The deal would likely be structured as a capital increase, with existing shareholders Miguel Ángel Gil, Enrique Cerezo, and Ares Management seeing their holdings diluted, but not selling any shares outright. This approach mirrors previous capital raises involving Wanda, Quantum Pacific Group, and Ares.

Atlético is developing the expansive City of Sports complex near its Metropolitano Stadium, which includes commercial, retail, and sporting facilities. The club has already secured €120m from LaLiga’s CVC-backed Impulso initiative and will contribute an additional €125m from internal funds. The remaining €555m is expected to be raised through institutional investors, with Apollo and at least three other funds reportedly involved.

Sources suggest that investment funds are open to taking equity positions either in the project’s holding company (Parque Metropolitano) or directly in Atlético Madrid itself. The goal, according to reports, is to retain the existing management structure while bringing in long-term institutional backing.

Market estimates value Atlético between €2.5bn and €3bn, based on recent financial performance, valuable land assets, and consistent Champions League participation over the past 13 seasons.

Should the deal move forward, it would mark another major private equity transaction in European football, following similar moves by Ares, CVC, and others into the sport’s top-tier institutions.

If you think we missed any important news, please do not hesitate to contact us at news@pe-insights.com.

Can`t stop reading? Read more.