U.S.-based buyout fund Apollo Global Management is in talks with the owner of Atletico Madrid to take a significant stake in the Spanish top-flight side, Expansion newspaper reported on Wednesday.

Atletico Madrid have been run by the same family for the past 38 years, but their control over the club is on the wane. There has been talk of a sale for some years, but now Los Colchoneros could

Apollo Global Management is in discussions with Atletico Madrid's lead shareholder for a potential investment. The Spanish club is undertaking an 800 million euro project, with private investors expected to cover the majority of costs.