Apollo Global Management Inc. has bought a majority stake in Atlético de Madrid, joining a growing number of private equity funds taking control of famous football teams.
The takeover is the first major deal for the US private equity giant’s new $5 billion sports fund. The financial terms weren’t disclosed in a statement announcing the news on Monday. The deal values the club at €2.2 billion, according to people familiar with the matter who couldn’t speak publicly about the transaction.
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