Miguel Ángel Gil Marín, Ares Management, Enrique Cerezo, and club Quantum Pacific are holding talks with the NYSE listed giant for a stake in the iconic Spanish sport club on the ground of a 2.5 billion euros enterprise value
Iconic Spain’s sport club Atlético Madrid attracted the interest of NYSE-listed Apollo Global Management’s Hybrid Value, a strategy that carries on deals with a blend of equity and debt, which is holding talks for acquiring a stake in the business on the ground of an enterprise value of 2.5 billion euros, Expansión reported. The fund is not going to replace the target’s shareholders that may dilute their holdings through the launch of a capital increase.
Apollo aims to buy a relevant stake in Atlético Holdco, the holding that Miguel Ángel Gil Marín (50.82%), Ares Management (33.96% since 2021 – press release), the club’s chairman Enrique Cerezo (15.22%), and Quantum Pacific (27.81%), an UK vehicle that Israelian businessman Idan Ofer created.
The holding owns 70.39% of Atletico Madrid which aims to raise 800 million euros for the development of Ciudad del Deporte, a complex with retail and sport structures. The club already fetched 120 million from LaLiga Impulso, a vehicle in which CVC Capital Partners has a stake, and will pour 125 million of its own resources in the project. Apollo and three other investors may provide a further 555 million.
The negotiations with Apollo initially concerned only the financing of Parque Metropolitano, the club’s company in charge of the development of Ciudad del Deporte. However, given the size of the investment involved, the fund would then propose Atlético Madrid’s shareholders to directly acquire a stake in the holding company that controls the Madrid’s football club.
