U.S. fund Apollo Sports Capital has finalized its acquisition of a majority stake in the Spanish soccer club Atletico Madrid. The deal, agreed upon in November, sees Apollo taking control of the top-tier club.
Quantum Pacific Group will remain the second-largest shareholder, retaining nearly all of its previous stake, reportedly around 25 percent. The newly formed board will feature five directors from Apollo and two from Quantum Pacific, alongside A&O Sherman partner Antonio Vazquez-Guillen. Former Atletico player David Villa will also join the board.
Atletico's shareholders have approved a capital increase of up to 100 million euros to fund club investments.