It is "official" -- Chinese businessman Wang Jianlin now owns 20% of Atlético Madrid's shares, according to AS. The cost of the operation is estimated to be
around €45M ($52M). In a luxury hotel in Beijing, Atlético CEO Miguel Ángel
Gil and President Enrique Cerezo and Wang, owner of the Dalian
Wanda Group, formalized the agreement. Wang is now the club's
third-biggest shareholder. Wang said in a statement, "Wanda's investment in Atlético 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 Atlético de Madrid with its
solid fan base and a brand that is rapidly expanding internationally." Meanwhile, Gil Marín said that the agreement signifies "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" (AS, 1/21). The EFE reported with the deal signed on Wednesday, a Chinese-language version of Atlético's website is "already up and running." The Madrid club will also create a youth academy in in China, "with the possibility of future players leaving Asia and ending up playing for Atlético." Wang: "The investment will not only provide a golden opportunity for young Chinese players sent overseas by Wanda to be selected by top European clubs, but also improve the quality of Chinese football and narrow the gap with the rest of the world" (EFE, 1/21).
PAVING THE WAY: In London, Buck & Noble reported Wang's move is the "first Chinese investment in a top-flight European football club, and follows similar moves by wealthy individuals and companies" from the Middle East and the U.S. Atlético hopes that teaming up with Dalian Wanda will "make it easier" to attract new fans and sponsors in China, an "increasingly important market for European football teams" such as ManU and Bayern Munich. Sources familiar with the deal said that the acquisition could "also open the way for further investment by Dalian Wanda in Spain." The Chinese group "made headlines last year" when it bought the landmark Edificio España tower in downtown Madrid for €265M. Dalian Wanda's interest in Atlético is "likely to focus not least on the club's properties outside Madrid, which it was hoping to develop as part of a casino and leisure complex known as Eurovegas" (FT, 1/21). Gil said, "I believe this deal can be described as historic. For the first time in the history of the club, a non-Spanish person is entering the leadership and this will mark a before and after" (EP, 1/21). The EFE reported Cerezo said, "It has to be recognized that this agreement is magnificent for 'Atleti.'" He added, "We will be able to do many things with the help of Wanda. ... All the money will go directly to the club's funds, none will go to a single shareholder or person." Cerezo "did rule out the money initially going to the signing of players." He said, "I imagine that it will not be for this. We always work looking toward the future" (EFE, 1/21).
GROWING THE GAME: XINHUA reported the deal involves opening three Atlético Madrid football schools in China, sponsorship deals and a "possible tour by the club to China later this year." Also, Wang and Atlético will combine to invest $34M for a youth center in Madrid to foster Chinese football talent. Wang expects to "enlarge Chinese football-playing population to 10 million," which he believes is the "key point of Chinese football's development." He said that Wanda may "continue to invest in other European football clubs." Wang: "Wanda may continue to buy stakes in other European football clubs. 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 already brought 90 young Chinese players to Spain and "the number is expected to reach 180" in '17 (XINHUA, 1/21).
