Apollo Global (APO) is in talks to take a stake in Atletico Madrid, Spain’s third largest football club, The Financial Times’ Barney Jopson, Josh Noble, and Arash Massoudi report. Atletico Holdco CEO Miguel Angel Gil Marin, who owns 50.8%, and club chair Enrique Cerezo, who owns 15.2% are not willing to sell any shares, but would be open to issuing new equity to allow Apollo to take a stake, according to the report. Ares Management (ARES), which owns a 34% stake in Atletico’s holding company, could sell some or all of its stake, according to people with knowledge of the talks.
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