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Billionaire Wang Jianlin hopes his HK$403 million purchase of 20 per cent in Spanish champions Atletico Madrid can help transform the future of Chinese soccer.
Wang confirmed the 45 million euros deal yesterday at a press conference in Beijing with Atletico president Enrique Cerezo.
His company Wanda Group will join with Atletico to open three football schools in China, and each year the Spanish club will play in China.

The two will also jointly invest 30 million euros (HK$269 million) to create a youth centre in Madrid to provide better training conditions for Chinese youth players.
“As long as China’s football population reaches five million, our national team will be unmatchable in Asia,” said Wang, one of China’s richest men.
And Atletico may not be his last foray into Europe: “Wanda may continue to buy stakes in other European football clubs,” he added. “We want to offer more opportunities to talented Chinese youths to play on the international stage.”

Wanda Group has been funding a youth training project which has brought 90 young Chinese players to Spain and the number is expected to reach 180 in 2017.

	Hopefully, three to five among those 90 young players will play for top European clubs in the future and in five years, Spain-trained players will fill the Chinese team in the Asian Cup

	Wang Jianlin
“These 90 kids are the hope of Chinese soccer and they will spend six years in Spain,” Wang said. “Most of them will train with Atletico. We believe Atletico is very earnest and committed to youth training.
Wang, ranked 42nd in Forbes’ list with his fortune estimated at around US$18 billion, said his cooperation with Atletico is based on friendship with the club’s chiefs and his own dream to raise the game of young Chinese players.
“What we are doing is to raise the level of Chinese game,” said Wang. “Hopefully, three to five among those 90 young players will play for top European clubs in the future and in five years, Spain-trained players will fill the Chinese team in the Asian Cup.”
Wang was once owner of Dalian Wanda football team, but sold the club in 2000 over disillusionment with a league rife with corruption and scandals.
In 2011, Wang returned to Chinese soccer as a sponsor of the Super League.
He raised US$3.7 billion last month by floating a chunk of his Wanda stock on the Hong Kong stock market.


Billionaire Wang Jianlin hopes purchase of Atletico Madrid stake can transform Chinese soccer

Atletico president Enrique Cerezo (right) and managing director Miguel Angel Gil pose with Wang Jianlin in Beijing. Photo: Reuters

The announcement of the deal in Beijing. Photo: Reuters

Models usher Wang Jianlin and Atletico president Enrique Cerezo to their announcement. Photo: Reuters 

Atletico Madrid President Enrique Cerezo (left) and Atletico Madrid CEO Miguel Angel Gil (right) sign documents as Wanda Group Chairman Wang Jianlin (standing left) looks on during an agreement ceremony in Beijing. Photo: EPA

Models usher Wang Jianlin and Atletico president Enrique Cerezo and Atletico Madrid CEO Miguel Angel Gil to their announcement. Photo: Reuters 

Sport

Football

Wanda chief believes the link-up can help revolutionise the quality of the national team


Chinese billionaire Wang Jianlin will pay 45 million euros (HK$403 million) for a 20 per cent stake in reigning Spanish champion Atletico Madrid.


Billionaire Wang Jianlin hopes purchase of Atletico Madrid stake can transform Chinese soccer

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}Wanda chief believes the link-up can help revolutionise the quality of the national team

Wanda chief believes the link-up can help revolutionise the quality of the national team