Apollo Sports Capital to Acquire 55% Stake in Atlético de Madrid

A&O Shearman, Ecija, Pérez-Llorca and Uría Menéndez advised the parties to the transaction: A&O Shearman acted for Apollo Sports Capital; Ecija advised Miguel Ángel Gil and Enrique Cerezo; Pérez-Llorca acted for Ares Management; and Uría Menéndez advised Quantum Pacific Group. Apollo Sports Capital, Apollo’s global sports investment company, has reached an agreement with Atlético de Madrid and its principal shareholders — Miguel Ángel Gil, Enrique Cerezo, Quantum Pacific Group and Ares Management funds — under which Apollo Sports Capital will acquire a 55% stake and become the club’s majority shareholder. As part of the agreement Gil and Cerezo will remain in their executive roles as chief executive and chairman respectively and will continue as shareholders. The shareholder group plans to invest additional capital to support Atlético de Madrid’s long-term strategy, including new investment in the club’s teams and major infrastructure projects. A key element is the development of the Ciudad del Deporte, a new sports and entertainment district adjacent to the Riyadh Air Metropolitano stadium. Apollo Sports Capital’s investment is subject to customary closing conditions, including regulatory approvals, and is expected to complete in the first quarter of 2026. Upon closing, Atlético de Madrid — including Atlético de San Luis and Atlético Ottawa — will be majority owned by Apollo Sports Capital alongside Miguel Ángel Gil, Enrique Cerezo, Quantum Pacific Group and Ares Management funds. Financial terms of the transaction have not been disclosed. A&O Shearman represented Apollo Sports Capital with a team composed by: litigation and M&A partners Antonio Vázquez-Guillén, Bosco de Checa, Iñigo del Val and Paul Dunbar; senior associates Gadea Mato and Soyeon Lim; associates Juan Gomez Carus, Cristina Palau and Harriet Steel. Tax and antitrust partners Ishtar Sancho and Antonio Martínez were also involved alongside counsel Jaime Rodríguez and Mario García, senior associate Juan José Sánchez, and associate Eduardo de la Paz. Ecija represented Miguel Ángel Gil and Enrique Cerezo with a corporate and M&A team composed by: Pablo Jiménez de Parga (partner and vice president of Ecija) as team lead, supported by Magdalena Bertram (partner, Corporate/M&A), Alfonso Juliani (counsel) and Álvaro Gallego (senior associate). Pérez-Llorca represented Ares Management with a dedicated corporate and transactions team handling the advisory work on behalf of its client. Uría Menéndez represented Quantum Pacific Group with a multidisciplinary M&A advisory team assisting the client on the transaction.

Apollo Sports Capital to Acquire 55% Stake in Atlético de Madrid

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