Mexican Billionaire Carlos Slim To Fund Construction Of Atlético's New Stadium

Mexican billionaire Carlos Slim -- the world's second-richest man according to Forbes -- will be the "driving force" for Atlético Madrid's new La Peineta stadium, a project that "has given many headaches to the club and the Madrid City Council," according to Eduardo J. Castelao of EL MUNDO. Slim, the biggest shareholder in Spanish construction company FCC, has decided to finance "the conclusion of the construction of the stadium," which the club hopes to play in by Sept. '17. According to Atlético's calculations, it needs €150M ($170M)-€170M ($193M) to finish a stadium "that aspires to be one of the most modern in the world." The club is hoping its stadium will be classified as a five-star facility by UEFA, the only classification that can host Europa League or Champions League finals. The involvement of Slim is "magnificent news" for Atlético. Slim acquired his stake in FCC in December by investing €500M (EL MUNDO, 8/25).