The strategy will focus on credit and hybrid deals across sports franchises, venues, and events. Apollo has already loaned capital to teams and is currently in talks to acquire a majority stake in Spanish football club Atlético de Madrid. The firm has also explored financing for European football transfers and discussions with Mexico’s soccer league to support its media rights sales.

John Zito, Co-President of Apollo Asset Management, said: “We’ve known Al for many years. He brings a rare combination of investment and operational success in both sports and real estate.”

The launch comes amid a surge of private equity interest in sports. Rivals including Arctos Partners, CVC Capital Partners, and Ares Management have been actively investing in teams and leagues, while Elliott Management and Oaktree Capital have taken control of clubs after loan defaults.

In a parallel development, Avenue Capital Group announced the final close of its sports fund launched in 2023, securing more than $1bn in commitments.

Apollo’s new venture underscores the rising importance of private equity in shaping the business of sports, with managers betting on long-term growth from global franchises, live events, and media rights.