Following up on his previous European investment Chinese tycoon Wang Jianlin has taken a 20 per cent stake in Spanish La Liga club Atletico Madrid via Wanda Madrid Investment.
The deal reportedly worth some €44.98 million will also see Atletico Madrid tour China in the coming years and the establishment of a training centre in Madrid for young players from China.
Earlier this year the Wanda Group purchased the Swiss based sports marketing group Infront which was headed by the nephew of FIFA president Sepp Blatter and which holds some of the broadcasting rights to the World Cup for a reported €1.05 billion.
Mr. Wang is no stranger to Madrid having purchased the 117-meter Edificio España building from Santander in a deal worth €265 million in 2014.
