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Wanda Group's Purchase Of 20% Stake In Atlético Madrid Made Official

Chinese conglomerate Wanda Group continues to expand its sporting interests having "officially acquired" a 20% stake in La Liga side Atlético Madrid, worth a reported €45M ($48.4M), the club announced on Tuesday, according to the AFP. In January, Atlético Madrid President Enrique Cerezo met Wanda Chair Wang Jianlin in Beijing to "put into place the agreement and purchase." According to the terms, Atlético "will set up a football academy in Spain for young Chinese players while the team will also tour China in the years to come" (AFP, 4/1). 

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