The post Apollo In Talks To Purchase Majority Stake In Atlético Madrid, Expansión Reports appeared on BitcoinEthereumNews.com. Atlético Madrid are one of Spain’s biggest soccer clubs. Getty Images The American private equity firm Apollo Global Management is negoatiating to complete the acquisition of a majority stake in Spanish soccer club Atlético Madrid, Spanish financial newspaper Expansión reports. At present, Atlético Holdco controls 70.39% of the club’s shares, consisting of CEO Miguel Ángel Gil Marín (who owns 50.82% of shares at present) and president Enrique Cerezo (15.22%). The deal would see the organization buy shares from current shareholders Atlético Holdco, as well as Quantum Pacific (27.81%) and Ares Management (33.96%). They would all remain as minority stakeholders. Talks are ongoing as the parties agree the capital increase which will come alongside the acquisition of shares, with investment into the club’s projects off the field expected to follow the financial maneuver. Apollo value the club at €2.5 billion ($2.94 billion) Apollo is believed to value a 100% stake in the club at €2.5 billion ($2.94 billion), with their investment set to be just over half of that total in order to acquire a majority stake and have control of the club. The acquisition would be the first step in Apollo’s plans for the club, according to the report, which would then see a capital increase which will be required to finance the club’s project to build a Ciudad del Deporte site which will include the club’s training ground, swimming facilities and commercial site. Developing the project will have an estimated cost in total $5 billion, which will enable the soccer club to generate significant revenues beyond their usual remit on the sports field. It will require an investment of €800 million ($941.7 million), with the club contributing €200 million ($235.4 million) from the funds they received from La Liga’s agreement with another private equity firm, CVC. It will be… The post Apollo In Talks To Purchase Majority Stake In Atlético Madrid, Expansión Reports appeared on BitcoinEthereumNews.com. Atlético Madrid are one of Spain’s biggest soccer clubs. Getty Images The American private equity firm Apollo Global Management is negoatiating to complete the acquisition of a majority stake in Spanish soccer club Atlético Madrid, Spanish financial newspaper Expansión reports. At present, Atlético Holdco controls 70.39% of the club’s shares, consisting of CEO Miguel Ángel Gil Marín (who owns 50.82% of shares at present) and president Enrique Cerezo (15.22%). The deal would see the organization buy shares from current shareholders Atlético Holdco, as well as Quantum Pacific (27.81%) and Ares Management (33.96%). They would all remain as minority stakeholders. Talks are ongoing as the parties agree the capital increase which will come alongside the acquisition of shares, with investment into the club’s projects off the field expected to follow the financial maneuver. Apollo value the club at €2.5 billion ($2.94 billion) Apollo is believed to value a 100% stake in the club at €2.5 billion ($2.94 billion), with their investment set to be just over half of that total in order to acquire a majority stake and have control of the club. The acquisition would be the first step in Apollo’s plans for the club, according to the report, which would then see a capital increase which will be required to finance the club’s project to build a Ciudad del Deporte site which will include the club’s training ground, swimming facilities and commercial site. Developing the project will have an estimated cost in total $5 billion, which will enable the soccer club to generate significant revenues beyond their usual remit on the sports field. It will require an investment of €800 million ($941.7 million), with the club contributing €200 million ($235.4 million) from the funds they received from La Liga’s agreement with another private equity firm, CVC. It will be…