MADRID, March 9 (Reuters) – U.S. fund Apollo’s sports investment arm Apollo Sports Capital will complete the acquisition of 55% of Spanish football club Atletico Madrid on March 12, Spanish newspaper Expansion said on Monday, citing sources.
Apollo declined to comment when contacted by Reuters, while Atletico Madrid did not immediately respond to a request for comment.
Apollo Sports Capital agreed in November to become the majority shareholder in the top-tier club. A source told Reuters the deal would value the club at approximately 2.5 billion euros ($2.88 billion).
($1 = 0.8667 euros)
(Reporting by Paolo Laudani; Editing by Jan Harvey and Charlie Devereux)
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