China’s Wanda Group continue to expand their sporting interests having officially acquired a 20 per cent stake in La Liga champions Atletico Madrid, worth a reported 45 million euros, (HK$376 million), the club announced on Tuesday.
“Wanda Madrid Investment, who are part of the international group Dalian Wanda, have officially become a share holder in Atletico Madrid, after acquiring 726,707 shares representing 20 per cent of the club’s capital for the sum of 44,983,163.30 euros,” read a statement on the club’s website.
Wanda chairman Wang Jianlin, a football fan, said his company was delighted at their deal.
“The Wanda Group is delighted to be able to contribute to the growth of Atletico Madrid and their development in the Asian market, as well as counting on their magnificent experience in youth coaching which will without doubt help in the growth of Chinese football,” said Wang in a statement published on Atletico’s site.
This is a very important step for the club in its effort to construct a leading brand on a global level
Last January, club president Enrique Cerezo met Wang in Beijing to put into place the agreement and purchase.