Apollo Sports Capital, the division of the New York City-based Apollo Global Management, is acquiring a majority stake in Atlético de Madrid, Spain’s third-ranking football club (after Real Madrid and Barcelona), for an estimated $2.5 billion—all with lucrative TV rights deals.
Apollo is entering a field well traveled by other American investors, such as Clearlake Capital, which bought the British club Chelsea; Fenway Sports Group with Liverpool; RedBird Capital, which took over Italy’s AC Milan; and The Friedkin Group, which owns AS Roma — all hoping to cash in on European football’s $23.7 billion annual business.
“The investment by ASC will strengthen the Club’s position among the football elite and support its ambition to achieve long-term success for millions of fans around the world,” the Spanish club said. “As long-term investors, ASC and existing shareholders will work with Atlético de Madrid’s management to enhance the Club’s financial strength, sporting competitiveness, and community impact.”
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