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 34% of the club, while Gil Marin remains the majority shareholder.
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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.
Photo by GIORGIO VIERA / AFP
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 the area in collaboration with the city. They intend to build a concert venue for around 20,000 people, which has just been given the green light from the Council.
That will be on top of sports complex, and a city beach with surfing facilities too. That project will continue with the development of Parque Metropolitano, which is where Apollo factor in. They 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.
