Apollo Global Management Inc. is in talks to acquire a majority stake in Spanish football club Atlético de Madrid, a deal that would be a sizable investment for its new sports fund, according to people familiar with the matter.
The New York-listed private capital firm, which manged $840 billion of assets by the end of June, has been holding ongoing discussions this summer with Spain’s third-biggest football club to help finance a major redevelopment project. The negotiations now include taking a majority stake in the club, the people added, who asked not to be identified discussing confidential information.
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