Spanish giant Atletico Madrid to come under American ownership after deal with Apollo Sports Capital

Atletico Madrid is astir to travel nether American ownership

MADRID -- Atletico Madrid is astir to travel nether American ownership.

The Spanish elephantine announced Monday that Apollo Sports Capital, an plus absorption company, volition go the club’s bulk shareholder aboriginal adjacent year. No fiscal details were disclosed.

As portion of the agreement, existent main enforcement Miguel Angel Gil Marin and president Enrique Cerezo volition enactment successful their positions to guarantee “continuity of imaginativeness and leadership,” the 2 parties said successful a associated statement.

The connection besides said the woody for Atletico “is not portion of a multi-club power ownership strategy.”

“The concern by ASC volition reenforce the club’s presumption among football’s elite and enactment its ambition to present semipermanent occurrence for millions of fans worldwide,” Atletico and Apollo said. “As semipermanent investors, ASC and the existing shareholders volition spouse with Atlético de Madrid’s absorption to heighten the club’s fiscal strength, sporting competitiveness and assemblage impact.”

Apollo Sports Capital has besides invested successful the Madrid Open and Miami Open tennis tournaments.

The institution said it “intends to put further superior to enactment the club’s semipermanent plans, including further concern successful Atlético de Madrid’s teams and successful large infrastructure projects” including the improvement of the Ciudad del Deporte, a sports and amusement territory adjacent to its Metropolitano stadium home.

Atletico, coached by Diego Simeone since 2011 and presently 4th successful the league, is an 11-time Spanish champion — astir precocious successful the 2020-21 season. The squad reached the Champions League last successful 2014 and 2016, losing to Real Madrid some times.

Rob Givone, portfolio manager astatine ASC, described Atletico — founded successful 1903 — arsenic “one of Europe’s large sporting institutions.”

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