Why Liga MX is glad the Apollo deal died

A $1.3 billion offer fell apart in 2024, and Mikel Arriola says the collapse forced the reform Mexican football actually needed.

Sep 12, 2026

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Why Liga MX is glad the Apollo deal died

A $1.3 billion offer fell apart in 2024, and Mikel Arriola says the collapse forced the reform Mexican football actually needed.

In brief

A $1.3 billion offer fell apart in 2024, and Mikel Arriola says the collapse forced the reform Mexican football actually needed. A failed sale can be worth more than a closed one if it exposes the governance problem you were avoiding. Originally reported by SI Mexico.

A $1.3 billion offer vanished

A $1.3 billion offer vanished

In 2024 the Apollo fund offered 1,300 million dollars for 10 percent of Liga MX's commercial value. The headlines ran for months, then the deal quietly died.

“La noticia acaparó la atención varios meses y después se esfumó pronto.”

It cost the commissioner his job

Mikel Arriola, Comisionado Presidente de la Federación Mexicana de Futbol se presentó  en el panel “El Juego del dinero”, en el Summit Expansión.

The failed negotiation pushed Juan Carlos Rodríguez out as commissioner of the Mexican Football Federation. Mikel Arriola took over the role.

The failure was the lesson

Arriola says Apollo's walk-away planted the idea that Liga MX needed a governance overhaul. The league now claims a value above the 13 billion dollars it was appraised at then.

“Lo que pasó con Apollo fue muy bueno, porque nos metió en la cabeza que teníamos que hacer una reforma de gobernanza”

A new entity, new decisions

Since 2024 the league has created Liga MX AC and rebuilt how choices get made, bringing club owners into the process. The stated goal was trust.

“Generamos una gran reforma de gobierno corporativo para crear confianza.”

TV rights go central

The board has authorized centralizing television rights, which Arriola frames as a fresh lift to the league's value. That property alone could be worth around 9 billion dollars.

Two countries, one audience

Mexican clubs sell to viewers on both sides of the border, including 60 million Latinos in the US with heavy spending power. Add streaming's hunger for sport and the assets look rich.

“son considerados como la quinta economía a nivel Mundial”

Here's the gist

A failed sale can be worth more than a closed one if it exposes the governance problem you were avoiding.

Read the original on SI Mexico

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