Atletico Madrid announce takeover deal but current President will remain in charge | OneFootball

After months of talk over a change of ownership, on Monday it was confirmed that Atletico Madrid had a new majority shareholder: Apollo Sports Capital (ASC). The move is a major shift for Los Colchoneros, with the Gil Marin family no longer in complete control of the club for the first time since 1987.

An announcement from Atletico Madrid explained that Club President Enrique Cerezo, CEO Miguel Angel Gil Marin, shareholders Quantum Pacific Group and Ares Management, the current owners of the club, had reached an agreement for ASC to become the majority shareholder. According to Marca, the deal will see ASC purchase 55% of the club’s overall shares, and that with the valuation of Atletico at €2.5b, the deal is likely to be worth in the region of €1.3b for the shares. It is part of ASC’s wider plan to invest €4.262b in their sports portfolio.

Gil Marin and Cerezo to remain in charge

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Despite the takeover, Gil Marin and Cerezo will continue to run the club in the ‘coming years’, confirmed as part of the club’s statement. No further details have emerged on how long exactly this will be, but it seems the decisions will continue to be made by the pair, who have been handling Atletico’s affairs for the past 20 years.

Investment before next summer

The same outlet also explain that ASC intend to make a significant capital increase in the club before the end of the season. The implication is that extra money is set to be made available to invest in the summer transfer market next year, allowing Sporting Director Mateu Alemany freedom to spend. He is now believed to be the figure of authority at Atletico when it comes to the market, usurping Director of Football Carlos Bucero.

A major part of their investment and decision to buy into the club is the urban development project Atletico are carrying out. With much of the land around the Metropolitano owned by the club, they are in the process of investing in fresh facilities for entertainment, sports, a new training ground and a watersports park.