Apollo Sports Capital to Anchor Atlético de Madrid's Next Chapter of Growth

Global sports investment powerhouse seals transformational deal with Europe’s storied institution

In a landmark move reshaping Spanish football’s investment landscape, Apollo Sports Capital—the sports-focused affiliate of NYSE-listed Apollo Global Management—has agreed to take a controlling stake in Atlético de Madrid. The transaction, finalized between the Madrid-based club and existing stakeholders including Miguel Ángel Gil, Enrique Cerezo, Quantum Pacific Group and Ares Management funds, signals a new era of financial backing and strategic expansion for one of Europe’s most decorated football institutions.

Continuity Amid Transformation

Central to the deal’s architecture is an uncommon provision: the club’s two most influential figures will remain at the helm. Miguel Ángel Gil continues as Chief Executive Officer and Enrique Cerezo as President, both retaining minority shareholdings. This deliberate continuity underscores Apollo’s commitment to preserving the competitive culture that has defined Atlético’s resurgence over the past two decades—a period marked by multiple domestic titles, Champions League runners-up finishes, and global brand expansion.

Gil’s strategic vision, coupled with Cerezo’s institutional stewardship, created the foundation upon which this capital influx will be layered. The arriving investment represents validation of the operational model they’ve constructed, rather than a pivot toward unfamiliar methods.

The City Within the City

Beyond traditional sporting investment, Apollo Sports Capital is backing an ambitious urban development vision. The centerpiece is Ciudad del Deporte, an integrated district adjacent to the Riyadh Air Metropolitano stadium designed to blend sport, entertainment, and community engagement. This sprawling project transforms the club’s footprint from purely athletic into a multi-use destination anchoring Madrid’s leisure ecosystem.

Robert Givone, Apollo partner and co-Portfolio Manager of Apollo Sports Capital, framed the investment through this development lens: “Supporting the ambitious plans for the sports city can create significant value for both the Club and the local economy.” The emphasis on Ciudad del Deporte reflects how modern sports capital increasingly pursues value through infrastructure and ancillary experiences, not just on-pitch performance.

Apollo’s Strategic Arsenal

The investment harnesses Apollo’s three-decade track record navigating credit markets, hybrid structures, and alternative assets. By deploying that toolkit—rather than imposing unfamiliar governance—ASC intends to strengthen Atlético’s financial architecture while channeling fresh capital into squad investment and stadium infrastructure. Recent Apollo Sports Capital deployments include stakes in the Mutua Madrid Open and Miami Open tennis tournaments alongside media veterans Ari Emmanuel and Mark Shapiro, demonstrating a pattern of capturing value across the broader sports ecosystem.

Givone emphasized this: “It was important to us that we invest behind his [Gil’s] continued leadership, in addition to investing in the team and the local community.” That language prioritizes partnership over intervention.

Timeline and Structure

The transaction navigates customary regulatory hurdles before anticipated completion in Q1 2026. Upon closing, the ownership structure will comprise Apollo Sports Capital as majority investor alongside the existing shareholder group, encompassing not only the Madrid flagship but also Atlético de San Luis and Atlético Ottawa, the club’s sister properties. Importantly, Apollo has signaled this is a single-asset commitment rather than the foundation of a multi-club holding company—a distinction that matters for competitive integrity in European football.

Financial terms remain undisclosed, though the magnitude of infrastructure commitment and competitive investment commitments suggest substantial capital deployment beyond typical sports acquisitions.

The Broader Implication

This transaction reflects a maturing phase of global sports capital, where international investment firms treat elite football clubs as platforms for compounded value creation across multiple vectors: sporting success, commercial operations, real estate development, and fan engagement infrastructure. Atlético de Madrid’s transformation from mid-table underperformer to continental contender under Gil and Cerezo created the conditions for this class of investor to recognize disproportionate upside potential.