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Investing.com -- Apollo Global Management (NYSE:APO) stock rose 2.3% following reports that the private equity firm is in talks to acquire a significant stake in Spanish football club Atletico Madrid.
According to Expansion, citing sources, Apollo is negotiating with Miguel Ángel Gil Marín for a multi-million-dollar investment in the red-and-white club, which is being valued at approximately €2.5 billion ($2.7 billion) as part of the transaction.
The discussions, which were initially centered on providing financing for Atletico Madrid’s building project, have evolved into negotiations for Apollo to take a stake in Atletico Holdco, the entity that owns the majority of the football club.
This potential investment represents Apollo’s latest move into European football, as private equity firms continue to seek opportunities in the sports sector. The talks are still ongoing, with no final agreement yet reached.
Apollo Global Management, with over $600 billion in assets under management, has been expanding its portfolio across various sectors in recent years, with sports investments becoming increasingly attractive to institutional investors seeking diversification.
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