Atletico Madrid has been run by the same family for the past 38 years, but their control over the club is declining. There has been talk of a sale for several years, but now Los Colchoneros could punish a second capital investment in the four -year space.
Miguel Angel Gil Marin, the current CEO, has been in charge since 2003 and takes over from Father Jesus Gil Y Gil, but in recent years there has been a lot of talk about a possible sale. In 2021, the club spent shares on Ares Management, which now owns 34% of the club, while Gil Marin remains the majority shareholder.
The latest expansion of the financial news site, via Marca, is that Atletico is in conversation with Private Equity company Apollo Global Management about a potential investment of € 2.5b. The negotiations would see more shares issued, and the use of Gil Marin, Ares Management and President Enrique Cerezo diluted, although it is not yet clear to what extent.
The primary motivation for the conversations has to do with the Parque Metropolitano project. Los Colchoneros rented a significant area of land around the Metropolitano and redevelops the area in collaboration with the city. They are planning to build a concert location for around 20,000 people who have just received the green light from the council.
That will be on top of the sports complex and also a city beach with surfing facilities. That project will continue with the development of Parque Metropolitano, where Apollo factor is. They have secured € 120 million in funds from the CVC deal with La Liga and will offer another € 240 million of the club's coffee. They are still looking for another € 500 million between Apollo and three other external investors, and the move can be part of that effort.