Wang Jialin, chairman of the Dailan Wanda property group, is to buy a stake in Atlético Madrid. This represents the first Chinese investment in a top flight European club. It should help Atlético to build a fan base and attract sponsors in the key Chinese market.
Wang Jialiin is China’s second richest man with personal wealth estimated at $13.2 billion. His ambition is to build a global entertainment empire stretching from China to Hollywood. Last year his group bought the landmark Edificio Espana tower in central Madrid for €265m.
Wang Jialin, chairman of the Dailan Wanda property group, is to buy a stake in Atlético Madrid. This represents the first Chinese investment in a top flight European club. It should help Atlético to build a fan base and attract sponsors in the key Chinese market.
Wang Jialiin is China’s second richest man with personal wealth estimated at $13.2 billion. His ambition is to build a global entertainment empire stretching from China to Hollywood. Last year his group bought the landmark Edificio Espana tower in central Madrid for €265m.
The Dailan Wanda group is to take a 20 per cent stake in the club for €40-€50 million. This will be achieved by way of a capital increase leaving the existing owners in control. It could always be increased in the future.
For many years Atlético has been struggling financially and was eclipsed by Real Madrid. However, it achieved a remarkable success on a limited budget last season, winning La Liga and reaching the final of the Champions League.