MADRID, March 9 – The sports investment division of American fund Apollo is set to complete its purchase of a majority stake in Spanish soccer club Atletico Madrid this Tuesday, March 12, according to a report from Spanish business publication Expansion citing industry sources.
Apollo Sports Capital will acquire 55% ownership of the prominent European football team, making the U.S. firm the controlling shareholder of the Madrid-based club.
The investment agreement was originally announced in November, with industry sources indicating the transaction values the entire soccer organization at roughly 2.5 billion euros, equivalent to approximately $2.88 billion.
When contacted for verification, representatives from both Apollo and Atletico Madrid have not yet provided responses to requests for comment on the pending transaction.
