A&O Shearman Advises Apollo Sports Capital on Majority Acquisition of Atlético de Madrid

A&O Shearman advised Apollo Sports Capital on its agreement to acquire a majority stake in Atlético de Madrid from the club and its principal shareholders, Miguel Ángel Gil, Enrique Cerezo, Quantum Pacific Group and Ares Management funds. The transaction will see Apollo Sports Capital (ASC), the global sports investment arm of Apollo, become the club’s majority shareholder. The investment is intended to reinforce Atlético de Madrid’s position among football’s elite and to support the club’s ambitions for long-term sporting success and wider community impact. ASC and the existing shareholders will partner with Atlético de Madrid’s management to enhance the club’s financial strength, sporting competitiveness and community engagement. Financial terms were not disclosed. The shareholder group intends to provide additional capital to support long-term plans, including further investment in Atlético de Madrid’s teams and major infrastructure projects. Key among these is the development of the Ciudad del Deporte, a new sports and entertainment district adjacent to the Riyadh Air Metropolitano Stadium, designed as a multi-use destination for sport, leisure, culture and community activity. Drawing on Apollo’s expertise across the sports, media and entertainment ecosystem, ASC aims to create a vibrant urban hub serving the wider Madrid community. The investment is subject to customary closing conditions, including regulatory approvals, and is expected to complete in Q1 2026. Upon closing, Atlético de Madrid, including Atlético de San Luis and Atlético Ottawa, will be majority owned by Apollo Sports Capital, with Miguel Ángel Gil, Enrique Cerezo, Quantum Pacific Group and Ares Management funds remaining as minority shareholders. A&O Shearman represented Apollo Sports Capital with a team composed by: Antonio Vázquez-Guillén, Partner (Madrid) — litigation and M&A; Bosco De Checa, Partner (Madrid) — litigation and M&A; Inigo del Val, Partner (Madrid) — litigation and M&A; Paul Dunbar, Partner (London) — litigation and M&A; Gadea Mato, Senior Associate (Madrid); Soyeon Lim, Senior Associate (London); Juan Gómez, Associate (Madrid); Cristina Palau, Associate (Madrid); Harriet Steel, Associate (London); Ishtar Sancho, Partner (Madrid) — tax and antitrust; Antonio Martínez, Partner (Madrid) — tax and antitrust; Jaime Rodríguez, Counsel; Mario García, Counsel; Juan José Sánchez, Senior Associate; and Eduardo de la Paz, Associate.

A&O Shearman Advises Apollo Sports Capital on Majority Acquisition of Atlético de Madrid

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