Atletico Madrid Owners in Advanced Talks to Sell Majority Stake to Apollo Global Management

Atletico Madrid's ownership group is in advanced discussions with Apollo Global Management, a US private equity firm, regarding the sale of a majority stake in the Spanish football club, according to sources familiar with the negotiations. Both Apollo and Atletico Madrid declined to confirm these reports when approached for comment. Speaking at a sports and business forum on Tuesday, Atletico's CEO Miguel Angel Gil Marin emphasized the importance of continuous financial investment to achieve strong results and satisfy supporters. He stated, \"To get good results and keep the fans happy, you have to keep investing significant money in players and infrastructure. That investment has to come from outside… now we are open to a new investor coming into the ownership group.\" The prospective deal involves Apollo acquiring shares from the current four partners: CEO Gil Marin, club president Enrique Cerezo, Ares Management, and Quantum Pacific, a British investment firm founded by Israeli entrepreneur Idan Ofer. Gil Marin controls a majority stake through Holdco, which holds 70.39 percent of the club's shares. Within Holdco, Gil Marin owns 50.82 percent, Ares Management 33.96 percent, and Cerezo 15.22 percent. Quantum Pacific holds 27.81 percent directly. According to Spanish financial outlet Expansion, Apollo values Atletico Madrid at approximately 2.5 billion euros ($2.9 billion). As a publicly traded company on the New York Stock Exchange managing assets exceeding $800 billion, Apollo is reportedly considering utilizing a $5 billion dedicated sports investment fund to facilitate the acquisition. Atletico, crowned La Liga champions in 2021, have experienced a challenging start to the current season and are positioned 12th in the league standings. The potential partnership with Apollo marks a strategic effort to secure fresh capital aimed at strengthening Atletico Madrid's future competitiveness both on and off the field.

Bacolod Councilor Secures Commitment to End Controversial Power Charge by October 2025

Bacolod City Councilor Wilson Gamboa Jr. held discussions with key executives from Negros Electric and Power Corporation (Negros Power) on September 17 regarding the ongoing collection of the Reinvestment Fund for Sustainable Capital Expenditures (RFSC). The RFSC charge has been contested following the Energy Regulatory Commission (ERC) Resolution No. 20, Series of 2009, which deems such fees illegal for privately held corporations like Negros Power. During the meeting, Gamboa met with Leomel Tambanillo, AVP for Rural Electrification; Christian Villena, Manager for Corporate Sourcing and Regulatory Affairs; Maricel Pe, AVP Customer Care and Business Development; and Mervin Dalian, head of Network Development and Operations. The councilor underscored concerns that the RFSC collection could generate approximately ₱300 million annually based solely on primary power consumption. Negros Power officials presented an "unpublished ERC order, ERC Case No. 2024-037 MC promulgated October 16, 2024," which grants them provisional authority and interim relief to collect the current Distribution, Supply, and Metering rate of CENECO, explicitly including the RFSC. This interim relief is set for a duration of one year from the date of receipt of the order. Councilor Gamboa noted, however, that the October 16 ERC order had not been publicly posted on Negros Power’s website. Instead, an earlier version dated September 24, 2024, was displayed, which does not authorize the collection of the RFSC, nor does Negros Power hold a Certificate of Public Convenience and Necessity (CPCN) or any official interim relief permitting the charge. "The September 24 order lacks any mention of the RFSC, while the unpublished October 16 promulgation includes it," Gamboa explained. Despite these discrepancies, the councilor obtained a firm assurance from Negros Power that the RFSC collection will end by October 2025, coinciding with their application for new distribution rate approval. Gamboa, who chairs the Sangguniang Panlungsod Committee on Human Rights, emphasized his unwavering stance on the matter based on legal and ethical considerations. He praised Negros Power’s responsiveness, calling their commitment a positive advancement toward consumer protection and transparency. "This decision is a significant relief for Bacolod residents and those in communities served by Negros Power," Gamboa stated. "However, my office will remain vigilant, continuously monitoring compliance and coordinating with both Negros Power and the ERC to ensure that promises are honored and consumer interests safeguarded."

Scottie Scheffler Anticipates Positive Impact from President Trump’s Ryder Cup Appearance

Top-ranked golfer Scottie Scheffler has expressed optimism that President Donald Trump's planned appearance at the Ryder Cup later this week will provide a significant boost to the United States team. The biennial golf event, held at the Bethpage Black course, will see the American squad facing off against defending champions Europe. "It has been a challenging few weeks for our country with recent events, and having our president present as we represent the United States, even in a golf tournament, is tremendously important to us," Scheffler commented on Tuesday. "We're excited to compete on home soil, energized by the crowd, and ready to begin the tournament." President Trump, known for his passion for golf, is scheduled to attend the competition's opening day on Friday, although his exact arrival time remains unconfirmed. US team captain Keegan Bradley refrained from confirming whether Trump would address the players directly but welcomed the president's presence. "I think President Trump is a very busy individual. I'm just thrilled he's coming," Bradley stated. "Having the President of the United States at the first tee of Bethpage elevates the event to an unforgettable sporting occasion." Scheffler noted that Trump has previously reached out to congratulate him after victories. While no formal team address is planned, he suggested the president might speak if the event unfolds favorably. Regarding personal interactions, Scheffler said he does not anticipate meeting with Trump during the event but praised the president's ability to inspire confidence. "He treats everyone equally, showing great respect, whether it's a caddie, club president, or someone serving lunch. Being around him builds confidence," Scheffler remarked. Fellow US golfer Patrick Cantlay also welcomed Trump's involvement, predicting a positive effect on the typically energetic atmosphere of the Ryder Cup. Captain Bradley emphasized that the president's presence would not distract the team, which includes 12 players ranked in the top 23 worldwide. Echoing this sentiment, Europe captain Luke Donald highlighted the significance of a sitting president attending the event. "It underscores the magnitude of the Ryder Cup when a president with a demanding schedule makes time to support it. That's a profound mark of respect," Donald stated. With heightened anticipation and a unifying presence, the U.S. team aims to channel this momentum into strong performances at one of golf's most prestigious tournaments.

Baguio City Promotes Paleng-QR Cashless Payment with Tax Incentives for Market Vendors

BAGUIO CITY — The local government of Baguio City is urging market vendors to embrace the Paleng-QR cashless payment system, highlighting its dual benefits of convenience for customers and tax incentives for businesses. Mayor Benjamin Magalong, in a recent interview, encouraged merchants to transition to cashless transactions to keep pace with evolving payment trends. He emphasized that businesses utilizing the QR PH system will qualify for a one-time 2.5 percent discount on their business tax during the first year, as stipulated in City Ordinance 71-2022. The Paleng-QR initiative was launched in 2022 amid the COVID-19 pandemic to minimize cash handling, which was then recognized as a potential vector for viral transmission. According to the city’s Permits and Licensing Division, approximately 28,000 business permits were issued in 2024, with a significant portion of the roughly 4,000 market vendors already registered with the QR payment system. During a recent orientation session, Market Superintendent Ceasar Emilio introduced GoTyme Bank as the new financial service partner of the Paleng-QR program. GoTyme Bank offers fully digital banking services via a mobile app and facilitates easy account opening through digital kiosks, streamlining merchants’ access to financial tools. Supporting the cashless ecosystem, the Department of Information and Communications Technology (DICT) has installed free Wi-Fi at the market premises to ensure smooth and reliable transactions. Vendors were also reminded of their obligations and rights under the Consumer Protection Act, reinforcing the city’s commitment to fair business practices alongside technological advancement.

Heart Evangelista Foregoes Fashion Week Amid Personal Convictions, Faces Financial Impact

Heart Evangelista has announced her decision to skip this season's Fashion Week, a choice that significantly affects her earnings. In a recent TikTok livestream, the style icon disclosed that each missed show results in an estimated loss of ₱2 million. "For example, a brand would invite you to attend a show. I typically earn around 2 million pesos per appearance... Okay, that might be too much information... but I’m proud of it," Evangelista shared during the stream. She clarified that her participation in Fashion Week extends beyond mere runway appearances. "I’m not there just to showcase fashion; it’s part of my professional responsibilities. Attending helps build my image, and I connect with agents and companies because it’s business," she explained. With 27 years in the industry, Evangelista acknowledged the emotional and financial toll of her absence. "It’s something I genuinely love and am passionate about. However, since it’s my career, I inevitably lose a lot by not attending," she remarked. Despite the monetary setback, she remains steadfast in her priorities. "Honestly, I believe this isn’t the appropriate time for anyone, especially those from our country, to be attending Fashion Week. It’s crucial that we open our eyes, unite, and show empathy," Evangelista stated. She also took a moment to express gratitude toward brands respecting her choice. "I want to thank all the brands that understand and support my decision not to participate," she added. This move underscores Evangelista’s commitment to aligning her professional activities with her values during challenging times.

DPWH Moves to Freeze Assets Linked to Flood Control Scandal

The Department of Public Works and Highways (DPWH) has taken decisive action to freeze millions of dollars in aircraft and hundreds of millions of pesos worth of luxury vehicles linked to individuals involved in the ongoing flood control projects corruption investigation. Secretary Vince Dizon revealed these measures during a press briefing on Wednesday, September 24, 2025. According to Dizon, the Civil Aviation Authority of the Philippines (CAAP) provided records indicating that Misibis Aviation & Development Corp., managed by Michael Ellis Co, son of Ako Bicol Congressman Elizaldy "Zaldy" Co, holds aircraft valued at $74.65 million. This fleet includes a $36-million Gulfstream 350 and a $16-million Agusta Westland AW1399 helicopter. Also implicated are aviation assets under Hi-Tone Construction and Development Corp., led by Zaldy Co's brother, Christopher Co. This portfolio features a $6.9-million Agusta A109E helicopter out of a total $7.94 million inventory. Additionally, a $2-million Bell 505 helicopter registered to QM Builders, a contractor associated with Allan Quirante and under investigation, is part of the asset freeze. "The President has directed us to recover the people’s money, and this includes these assets," Dizon emphasized. The DPWH has requested comprehensive registries from agencies including the Land Transportation Office, Land Registration Authority, CAAP, and the Maritime Industry Authority. These datasets covering land titles, vehicles, vessels, and aircraft will be shared with the Department of Justice and the Independent Commission on Infrastructure to support the corruption probe. Besides aircraft, the agency has petitioned the Anti-Money Laundering Council (AMLC) to freeze luxury vehicles worth ₱474,483,120 belonging to 26 individuals involved in the scandal. Those named include former DPWH Bulacan first district engineer Henry Alcantara, dismissed assistant engineers Brice Hernandez and Jaypee Mendoza, along with contractor Pacifico Discaya. Secretary Dizon also cautioned the public against purchasing any of the flagged vehicles, warning that buyers may become entangled in the investigation due to the enforced freezes. "If our fellow citizens are considering transactions involving these vehicles, we urge them to think twice because once these assets are frozen, anyone who buys them could face legal complications," he stated. This extensive asset freeze represents the most robust effort by the DPWH to date in recovering ill-gotten wealth and safeguarding public funds diverted through the flood control kickbacks scheme.

Filinvest Earns Dual Honors for Inclusivity and Workplace Excellence at HR Asia Awards 2025

Filinvest Group recently achieved a notable double triumph at the HR Asia Awards 2025 – Philippines Chapter, receiving the Diversity, Equity and Inclusion (DEI) Award as well as the Best Companies to Work for in Asia Award. These accolades, announced on August 26, recognize the organization’s unwavering commitment to cultivating an inclusive and empowering environment for its workforce. Isabelle Gotianun Yap, director of Filinvest Development Corporation (FDC), vice president for chief strategy and transformation, and executive director of EastWest, expressed the Group’s pride in receiving these honors. She stated, \"These awards validate our core belief that embracing diverse voices and perspectives drives stronger outcomes for our people, communities, and businesses. We are motivated to continue building a workplace where inclusivity sparks innovation, teamwork, and meaningful impact.\" Francis Gotianun, director of FDC and first senior vice president of Filinvest Hospitality Corporation, emphasized the connection between the company’s culture and its success, saying, \"These recognitions reflect the collective effort of our employees and the culture we’ve fostered. Diversity, equity, and inclusion at Filinvest are not mere formalities but fundamental to our growth and adaptability. As we commemorate 70 years of Moving Dreams Forward, we reaffirm our commitment to ensuring everyone has the opportunity to realize their aspirations.\" Filinvest’s outstanding performance in the HR Asia surveys was particularly evident in areas promoting equal career opportunities, safe spaces for cultural expression, and strict anti-discrimination measures. The company’s leadership diversity is notable: women constitute 67% of the Board of Directors, 49% of executives, and 57% of the entire workforce. This surpasses the Philippine Business Coalition for Women Empowerment’s reported leadership ratios in publicly listed firms, underscoring Filinvest’s longstanding dedication to gender equity and diverse leadership. The Group supports its inclusive vision with equity-focused initiatives including fair remuneration, transparent career progression, and collaborative frameworks. Employee engagement programs like Filinvest Live and LEAP have contributed to delivering over 832,000 training hours in 2024—averaging 60 hours per employee, surpassing standard professional development benchmarks. HR Asia highlighted the Group’s robust HR practices and strong employee engagement as key factors in its dual awards. Bing Paraguas, first vice president and head of HR strategy and COE at Filinvest Group, remarked, \"These accolades confirm that our policies and programs effectively foster an environment where individuals feel recognized and valued. What makes this truly special is our employees’ genuine embrace of inclusivity in their daily work life.\" In addition to the HR Asia achievements, Filinvest has earned multiple honors in 2025 from the Stevie Awards for Great Employers and the HR Excellence Awards, further attesting to its leadership in human resource management. Marking its 70th year, Filinvest continues to advance its philosophy of Moving Dreams Forward by prioritizing people at the core of its growth strategy. The company remains dedicated to sustainable community development, financial inclusion, and nation-building initiatives aimed at uplifting future generations. These recent awards reinforce Filinvest’s conviction that an inclusive workplace is crucial for building a resilient, thriving future for all stakeholders.

Filipino Golfers Set for Asian Development Tour Players Championship with International Opportunities at Stake

The Asian Development Tour Players Championship is scheduled from October 16 to 19 at the Luisita Golf and Country Club in Tarlac, offering Filipino golfers a significant platform to advance their careers internationally. With a prize fund totaling $100,000, the event holds more than just monetary rewards—the champion will also earn a sought-after entry into the International Series Philippines, taking place the following week at Sta. Elena Golf Club in Laguna from October 23 to 26. To maximize Filipino participation, over 20 places have been reserved for local rising stars. Crucially, if the overall winner is not Filipino, the top-finishing Filipino player will claim the only available spot at the Sta. Elena tournament, ensuring continued opportunities for homegrown talent. Additionally, two special invitations will be extended to promising players who have yet to qualify. The tournament is a pivotal avenue for Filipino golfers aspiring to compete at higher levels, pitting them against international competitors, including seasoned professionals and former major champions. Rahul Singh, head of the International Series, highlighted the significance of these opportunities: \"The Philippines has an exciting pool of young golf talent. Earlier this season, Aidric Chan and Carl Corpus earned their places at the International Series Morocco through strong performances. This demonstrates how such pathways can transform careers.\" Singh also underscored the initiative’s long-term vision to create direct channels for local players to compete with and learn from stars on the LIV Golf and Asian Tour circuits. Cho Minn Thant, commissioner and CEO of the Asian Tour, praised the country’s vibrant golfing culture and the role of role models like Miguel Tabuena. \"The Philippines consistently produces outstanding players. Allowing emerging golfers to compete alongside national heroes encourages and motivates the next generation,\" he said. The International Series Philippines is one of nine prominent events on the Asian Tour calendar this year and forms part of the season-long Rankings race, which provides a pathway into LIV Golf, regarded as one of the sport’s most prestigious platforms. Beyond competition, the Sta. Elena event plans to deliver an exceptional experience for fans, including live music, headline concerts, gourmet dining, premium hospitality, and immersive fan zones throughout the week. For ticket details, interested individuals are encouraged to seek official sources for further information.

Sofia Vergara Celebrates Jessica Sanchez's Victory on America’s Got Talent Season 20

The 20th season of "America’s Got Talent" concluded recently, culminating in a triumphant win for Filipino-American singer Jessica Sanchez. Actress Sofia Vergara expressed her pride and admiration for Jessica through social media posts following the finale. On Instagram, Vergara shared photos from the event and extended her congratulations to Jessica, highlighting her as her Golden Buzzer pick. "So proud of my Golden Buzzer Jessica Sanchez for winning [\"America’s Got Talent\"] season 20!!" Vergara wrote. She also described the season as "amazing." Further celebrating Jessica’s success, Sofia took to X to convey her admiration, stating, "Congratulations!! You deserve it!!!" Jessica Sanchez first appeared on "America’s Got Talent" at the age of 10, reaching the semi-final round. She gained wider recognition as the runner-up on Season 11 of "American Idol." Her return to AGT in July was marked by a standout performance of "Beautiful Things" by Benson Boone, which earned Sofia Vergara's Golden Buzzer and secured Jessica’s place in the finals. During the finale, Jessica impressed audiences with a heartfelt rendition of "Golden Hour" by JVKE, ultimately securing her victory on the show. Jessica Sanchez’s win signifies not only her remarkable talent but also her inspiring journey in the world of competitive music entertainment.

Alexandra Eala Advances to Jingshan Tennis Open Quarterfinals with Straight-Set Victory

Filipino tennis prodigy Alexandra Eala advanced to the quarterfinals of the Jingshan Tennis Open following a commanding 6-0, 6-3 victory over Japan’s Mei Yamaguchi on Thursday in China.\n\nEala dominated the match from the start, quickly claiming the first set without dropping a game. Though Yamaguchi managed to find some foothold in the second set, Eala maintained control throughout.\n\nEala opened the second set with a 2-0 lead before Yamaguchi registered her first game. Eala then surged ahead to 4-1, but Yamaguchi mounted a brief comeback, winning two consecutive games to tighten the score to 4-3. Demonstrating composure and resilience, Eala closed out the match by securing the final two games.\n\nWith this victory, Eala is set to compete against the winner of the ongoing quarterfinal match between China’s Jia-Jing Lu and India’s Riya Bhatia.\n\nEala's performance highlights her growing stature on the international tennis stage and her potential to make deeper runs in major tournaments.