Reports in Spain have revealed that the richest man in China, Wang Jianlin, is set to buy a 20% stake in Atletico Madrid.
An announcement confirming the move by Jianlin is set to arrive on Tuesday.
Negotiations between Enrique Cerezo and Miguel Ángel Gil with Wang Jianlin have been progressing for some time.
Jianlin will pay 40 million euros for a 20% stake in the La Liga champions, according to Cope.
Marca meanwhile claim that Wang Jianlin will initially invest 45 million euros into the club and will join the board of directors at Atletico.
As part of the deal, Atletico Madrid have committed to a pre-season tour in Beijing next summer and will open five academies in China.
Gil and Cerezo will maintain control of the club, but both their shareholdings will be reduced.
Despite their recent on-field success, Atletico Madrid have struggled financially and consistently sold their best players, this move may allow them to challenge Europe’s elite on a more stable footing.
Jianlin meanwhile, reportedly feels the La Liga broadcasting rights will improve significantly in the coming years and will be more fairly shared between Barcelona and Real Madrid and everyone else…
Could Diego Simeone’s recent success guided Atletico Madrid to a brighter future?
Wang Jianlin is considered to be the richest man in China and controls the Dalian Wanda Group conglomerate and is also reportedly a keen football fan.
