Dalian Wanda Invests $52M In Club Atlético de Madrid

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Chinese conglomerate Dalian Wanda Group has invested €45 million (US$52 million) to acquire a 20% equity stake in Club Atlético de Madrid, a Spanish football club, to help shore up its balance sheet and support its expansion in China, according to a company announcement.

This is the first time a Chinese company has invested in a top European football club. The deal will also give Wanda a seat on the club’s board of directors.

As part of the agreement, Atlético will be responsible for drafting a plan specifically focused on the growth of Chinese grassroots football overseas, which will involve building a new youth training center to provide optimum facilities for young Chinese footballers studying in Spain.

China Money Network

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