Overview

• Apollo is negotiating to take control by buying shares from CEO Miguel Ángel Gil Marín and chairman Enrique Cerezo, with a potential purchase from Ares Management also under discussion.
• Sources say a deal could value Atlético at about €2.5 billion, though terms remain subject to change.
• Apollo’s exclusivity to invest runs until mid-October, and the parties have declined to comment as talks could still fall apart.
• Any transaction may be staged before majority control is reached, with current management expected to remain in place.
• Atlético has disclosed plans for at least a €60 million capital increase to back squad spending and projects around the Metropolitano, while Apollo readies a $5 billion sports fund.