BEIJING: China’s biggest property company Dalian Wanda head Wang Jianlin is purchasing a 20% stake in Spanish football club Atletico Madrid for €45m ($52m; £34m).
This includes US cinema chain AMC and luxury British yachtmaker Sunseeker.
It will be the first Chinese company to invest in a top European football club.
“This investment will not only provide a golden opportunity for young Chinese players sent overseas by Wanda to be selected by leading European football clubs,” Mr Wang said.
“It will also strengthen the quality of Chinese football and narrow the gap between the rest of the world.”
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