Atletico announce Wanda Group investment
Atletico Madrid have confirmed that Chinese conglomerate Wanda Group has agreed to purchase a 20 per cent stake in the Liga champions.
The agreement was announced in Beijing, with the company making a €45million investment in order to secure their shares.
Wanda Group operates in areas such as entertainment, hotels and real estate and has long been involved in Chinese football, sponsoring the Chinese Super League for several seasons.
The firm has also been involved in China's Future Stars project, which helps develop grassroots football in the country and is a programme that Atletico have actively participated in.
And Atletico CEO Miguel Angel Gil Marin is confident the investment from the Far East will have a positive impact on the club.
He said: "This is a major step for the club in its efforts to build a leading global brand that will provide the financial resources to remain competitive in Europe and provide riveting experiences for our fans."
Wang Jianlin, chairman of Wanda Group, added: "Wanda's investment in Atletico de Madrid is another step in our efforts to build a comprehensive entertainment portfolio for our domestic and international clients.
"We are delighted with the possibility of contributing to the growth of Atletico de Madrid with its solid fan base and a brand that is rapidly expanding internationally.
"We will also rely on their great experience in the training area, which will no doubt be very useful for the growth of grassroots football in China."
Meanwhile, Atletico have loaned winger Cristian Rodriguez to Serie A side Parma for the rest of the season.