Atletico Madrid may not be for sale, but CEO Miguel Angel Gil Marin is in conversation to sell part of the club to foreign investors. Los Rojiblancos is looking for investments in their urban project on the land around the Metropolitano, which can open the door for further deals.
The news broke last week that the American investment group Apollo Global Management was in conversation with Atletico to buy in the club, with Gil Marin, President Enrique Cerezo and Ares Management who diluted their shares. As it looks now, Atletico Holdco currently owns 70% of the club, while Quantum Pacific own 28%. The idea would be to dilute the 34% share of Ares Management in Atleti Holdco, as well as the 15% of Cerezo, while Gil Marin leaves as a majority shareholder and therefore still the most important decision -maker.
The number of the number mentioned for the above deal was a potential investment of € 2.5 billion from Apollo. According to Vozpopuli, Saudi Arabia has communicated their interest in a potential deal and a willingness to negotiate a great importance in the club.
The oil capacity in the middle east are already linked to Los Rojiblancos due to sponsorship, with Riyadh Air currently the most important shirt sponsor for the club, as well as their stadium sponsor. Riyadh Air is finally expected that at a certain moment this year it will start as an airline as an airline after two years of advertising on the Atletico shirt.
The development of the Atletico Sports City could be the impetus for changes in ownership. Atletico is already building a water sports location and beach next to the stadium and has just protected the building permit for a concert location of 20,000 capacity. The plans are for a sports complex and training facilities are being built.
Los Rojiblancos will be € 120 million of the costs in the front place and receives € 120 million from the CVC deal for the budget. However, they are still looking for another € 500 million in investments to complete their plans and try to get that money for this fall. Both Apollo and Saudi Arabia could also invest in that project.