European giants valued at whopping £2bn after takeover confirmed

Spanish giants Atletico Madrid have been valued at approximately £2.2bn following Apollo Global Management's acquisition of a majority stake in the La Liga powerhouse. Chief executive Miguel Angel Gil Marin and president Enrique Cerezo will remain in their respective roles, though the deal marks another significant private equity incursion into European football.

According to City AM, sources suggest the American fund will control roughly 70 per cent of the Madrid outfit, whilst Gil, Cerezo, international investment group Quantum Pacific Group - established by Israeli billionaire Idan Ofer - and investment manager Ares Management will all retain minority shareholdings.

The Spanish club has reportedly been valued at around £2.2bn, according to Reuters. Apollo's Robert Givone described the club as "one of Europe's great sporting institutions".

He stated they are "excited to back the team and honour its spirit and traditions, and to add value in areas where we excel, such as growth of the [training complex] and enhancing the fan experience. Supporting the ambitious plans for the sports city can create significant value for both the club and the local economy."

September saw multiple publications report that New York-headquartered Apollo Global Management was preparing to launch a £3.75bn investment vehicle targeting sport. The company previously provided £80m to Premier League side Nottingham Forest whilst reportedly extending a £40m loan to football agent and prominent horse racing figure Kia Joorabchian's Sports Invest Holdings at an interest rate of 10.25 per cent.

Spanish football has already embraced private equity, with CVC Capital Partners signing a deal in 2021 that will see clubs receive over $2bn (£1.52bn) in exchange for a less-than-10 per cent stake in the league's broadcasting and sponsorship arm for the next half-century.

Atletico Madrid's Metropolitano Stadium, one of LaLiga's finest, is sponsored by the new airline Riyadh Air. Apollo is a great ally that respects the history, traditions, and identity of Atletico and its fans," said Gil Marin.

"While the investment brings additional resources and enthusiasm to help maintain our growth and competitiveness."