Atletico Madrid in talks with private equity over €2.5b investment

Atletico Madrid have been run by the same family for the past 38 years, but their control over the club is on the wane. There has been talk of a sale for some years, but now Los Colchoneros could sanction a second capital investment in the space of four years.

Miguel Angel Gil Marin, the current CEO, has been in charge since 2003, taking over from father Jesus Gil y Gil, but over recent years there has been plenty of talk over a potential sale. In 2021, the club issued shares to Ares Management, who now own 32% of the club, while Gil Marin remains the majority shareholder.

Negotiations with Apollo Global Management

The latest from financial news site Expansion, via Marca, is that Atletico are in talks with private equity firm Apollo Global Management over a potential €2.5b investment. The negotiations would see more shares issued, and the stakes of Gil Marin, Ares Management and President Enrique Cerezo diluted, although it is not yet clear to what degree.

Parque Metropolitano project

The primary motivation for the talks is to do with the Parque Metropolitano project. Los Colchoneros leased a significant area of land around the Metropolitano, and are redeveloping it in collaboration with the Madrid Council. They intend to build a concert venue next to the stadium for around 20,000 people, which has just been given the green light.

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Atlético Madrid’s offices insist that it’s crucial for him to regain confidence, which is why getting regular playing time is important.

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That will be on top of sports complex, and a city beach with surfing facilities too. The project will continue with the development of Parque Metropolitano, which is where Apollo factor in. Atetico have secured €120m in funds from the CVC deal with La Liga, and will provide another €240m from the club’s coffers. They are still looking for a further €500m between Apollo and three other external investors though, and the move could be part of that effort.

Who are Apollo Global Management?

One of the largest private equity firms in the world, Apollo have already invested in Liga MX in Mexico, where they looked to alter the commercial rights process at the club. Speaking to a source in the investment industry, it is explained to Football España that Apollo could, in essence, be looking to buy shares from Ares, in which case they would have less control over strategy and decision-making, albeit in collaboration with Los Rojiblancos.

If indeed significantly more shares are issued, then more money would be coming to Atletico’s accounts, and by the same token, more power in decision-making would be handed to Apollo. Their general method of operating tends to see investment in companies, followed by optimising commercial practice, including the cutting of costs, and then increasing the profit margins of the asset.