U.S.-based buyout fund Apollo Global Management is in talks with the lead shareholder of Atletico Madrid about a possible deal to invest in the Spanish top-flight side, two people familiar with the matter told Reuters.

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.

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