Spanish giant Atletico Madrid to come under American ownership after deal with Apollo Sports Capital

MADRID (AP) — Atletico Madrid is about to come under American ownership.

The Spanish giant announced Monday that Apollo Sports Capital, an asset management company, will become the club’s majority shareholder early next year. No financial details were disclosed.

As part of the agreement, current chief executive Miguel Angel Gil Marin and president Enrique Cerezo will stay in their positions to ensure “continuity of vision and leadership,” the two parties said in a joint statement.

The statement also said the deal for Atletico “is not part of a multi-club control ownership strategy.”

“The investment by ASC will reinforce the club’s position among football’s elite and support its ambition to deliver long-term success for millions of fans worldwide,” Atletico and Apollo said. “As long-ter