A major shift has taken place in European football this week, and it directly concerns one of Newcastle United’s rivals in the Champions League. Atletico Madrid, a club competing alongside Newcastle for a place in the knockout stages, have confirmed a huge £2.2billion takeover that adds another powerful financial force to the competition.
The timing couldn’t be more significant, especially as both clubs continue to build their sporting projects with influence that in one way or another links back to the growing financial landscape shaped by the Saudi Arabian Public Investment Fund.
Newcastle fans already know how much the PIF transformed their club when it became the majority owner in 2021. Although the takeover made headlines around the world and placed Newcastle among the wealthiest clubs on paper, the reality is that financial regulations across European football prevent them from using that immense wealth freely.
Still, the PIF’s backing has allowed the Magpies to take major steps forward, not just in the transfer market but also in strengthening their commercial partnerships and long-term infrastructure.
Atletico Madrid have enjoyed similar support, though indirectly. Last year, Riyadh Air, a company backed by the PIF, signed a nine-year agreement for the naming rights of the Metropolitano Stadium.
The deal was said to be worth around £250million and was one of the largest stadium sponsorship packages in Europe at the time. Riyadh Air also appear prominently on Atletico’s first-team kits, giving the club another financial source as it tries to compete with Europe’s elite.
Newcastle have a similar type of agreement, with PIF-owned Sela providing a lucrative annual sponsorship said to be worth around £25million a season.
However, the landscape shifted dramatically last week when Atletico officially confirmed that Apollo Sports Capital had become their new majority shareholder.
Apollo, a global private equity group with assets worth roughly £690billion, has effectively turned Atletico into the second richest club in Europe if judged solely on owner wealth, behind only Newcastle.
While Newcastle are backed by a sovereign wealth fund, Atletico are now supported by one of the most influential private investment firms in world sport. It represents a huge moment for the Spanish club and could have long-term consequences for the balance of power in European football.
Atletico released a detailed statement to accompany the announcement, setting out the vision behind the partnership. Miguel Ángel Gil and Enrique Cerezo, who have led the club for decades, will remain in charge as CEO and President, ensuring that the boardroom stability that has driven much of the club’s success does not change.
They will continue to hold shares in the club, while Apollo Sports Capital steps in as the new dominant financial force behind the project.
The message from the club emphasised continuity while promising renewed ambition. Over the last twenty years, Atletico have transformed themselves from a team battling inconsistency into one of the most respected and successful clubs in Europe.
They have won major trophies, grown their global following and built a strong identity on and off the field. The new takeover aims to push the club even further, whether through improved recruitment, bigger commercial deals or more ambitious sporting targets.
Apollo’s arrival does not erase Atletico’s past ties to PIF-backed sponsorships, but it does mark a turning point. They now stand as a club powered by massive private-equity backing rather than national investment funds, and the financial rivalry between Apollo and PIF adds another fascinating layer to the story.
Both ownerships have shaped Newcastle and Atletico’s ability to challenge bigger clubs, but now they stand on different financial paths as they chase Champions League progress.
Atletico’s leadership expressed excitement about the future, describing Apollo as a committed partner who understands the club’s culture and fanbase. Their message was clear: the goal is long-term success, and the new investment is designed to create even greater stability, strength and global reach.
For Newcastle supporters, this development is worth watching closely. The competition for Champions League places is fierce, and the arrival of such powerful backing at Atletico only raises the stakes.
Yet it also highlights how much the financial landscape in football continues to evolve — and how Newcastle remain firmly in that conversation as one of the game’s major modern forces.
