Atletico Madrid coming beneath U.S. possession : NPR

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Manu Fernande/AP MADRID — Atletico Madrid is about to return beneath American possession.

Apollo Sports activities Capital, an asset administration firm, will develop into the Spanish membership's majority shareholder early subsequent yr, Atletico introduced on Monday. No monetary particulars have been disclosed.

Chief govt Miguel Ángel Gil and president Enrique Cerezo will keep of their positions to make sure "continuity of imaginative and prescient and management," the 2 events stated in a joint assertion.

Gil's place at Atletico has elevated its affect in soccer, as he's a member of the chief committees at each the influential European Soccer Golf equipment group and UEFA.

The assertion additionally stated the deal for Atletico "shouldn't be a part of a multi-club management possession technique."

"The funding by ASC will reinforce the membership's place amongst soccer's elite and assist its ambition to ship long-term success for tens of millions of followers worldwide," Atletico and Apollo stated. "As long-term traders, ASC and the present shareholders will accomplice with Atlético de Madrid's administration to boost the membership's monetary power, sporting competitiveness and group influence."

Apollo Sports activities Capital has additionally invested within the Madrid Open and Miami Open tennis tournaments.

The corporate stated it "intends to speculate extra capital to assist the membership's long-term plans, together with additional funding in Atlético de Madrid's groups and in main infrastructure initiatives" akin to Ciudad del Deporte, a sports activities and leisure district adjoining to its Metropolitano Stadium dwelling.

Atletico, coached by Diego Simeone since 2011 and at the moment fourth in La Liga, is an 11-time Spanish champion, most lately in 2021. The group reached the Champions League ultimate in 2014 and 2016, dropping to Actual Madrid each occasions.

Rob Givone, portfolio supervisor at ASC, described Atletico — based in 1903 — as "one in every of Europe's nice sporting establishments."

Earlier traders in Atletico have included Chinese language conglomerate Wanda, which bought its stake to Israeli billionaire Idan Ofer's Quantum Pacific Group.