MADRID (AP) \u2014 Atletico Madrid is about to come under American ownership.<\/p>\n
Apollo Sports Capital, an asset management company, will become the Spanish club\u2019s majority shareholder early next year, Atletico announced on Monday. No financial details were disclosed.<\/p>\n
Chief executive Miguel \u00c1ngel Gil and president Enrique Cerezo will stay in their positions to ensure \u201ccontinuity of vision and leadership,\u201d the two parties said in a joint statement.<\/p>\n<\/p>\n
Gil’s position at Atletico has elevated its influence in soccer, as he is a member of the executive committees at both the influential European Football Clubs group<\/a> and UEFA<\/a>.<\/p>\n The statement also said the deal for Atletico \u201cis not part of a multi-club control ownership strategy.\u201d<\/p>\n \u201cThe investment by ASC will reinforce the club\u2019s position among football\u2019s elite and support its ambition to deliver long-term success for millions of fans worldwide,\u201d Atletico and Apollo said. \u201cAs long-term investors, ASC and the existing shareholders will partner with Atl\u00e9tico de Madrid\u2019s management to enhance the club\u2019s financial strength, sporting competitiveness and community impact.\u201d<\/p>\n Apollo Sports Capital has also invested in the Madrid Open and Miami Open tennis tournaments.<\/p>\n The company said it \u201cintends to invest additional capital to support the club\u2019s long-term plans, including further investment in Atl\u00e9tico de Madrid\u2019s teams and in major infrastructure projects\u201d such as Ciudad del Deporte, a sports and entertainment district adjacent to its Metropolitano Stadium home.<\/p>\n Atletico, coached by Diego Simeone since 2011 and currently fourth in La Liga, is an 11-time Spanish champion, most recently in 2021. The team reached the Champions League final in 2014 and 2016, losing to Real Madrid both times.<\/p>\n Rob Givone, portfolio manager at ASC, described Atletico \u2014 founded in 1903 \u2014 as \u201cone of Europe\u2019s great sporting institutions.\u201d<\/p>\n Previous investors in Atletico have included Chinese conglomerate Wanda, which sold its stake<\/a> to Israeli billionaire Idan Ofer’s Quantum Pacific Group.<\/p>\n ___<\/p>\n