March 26 – LaLiga club Atletico de Madrid is flexing its Chinese muscle with the opening of two offices in the Chinese cities of Beijing and the other in Chengdu.
Until February China’s Wanda Sports was a 17% shareholder in Atletico but sold that stake for an estimated $50 million as the group pared down its overseas investments. Wanda is naming rights sponsor of Atletico’s new 67,700 capacity Metropolitano stadium that opened last year.
Wanda is also the rights broking driving force behind the Gree China Cup that concludes today with the final between Wales vs Uruguay. Earlier today the Czech Republic beat China 4-1 with four second half goals. This is the second edition of the competition.
The link with Atletico may now be broken on a shareholder level but both the club and Wanda seem committed to building on the relationship.
In 2011, Atletico participated in the Wanda Group-launched youth training programme, ‘Chinese Football Stars of Hope’. More than 100 young players have been part of this programme since its launch and received training in Spain.
Wanda Sports, through the new Chinese offices, will push the Spanish club’s footprint in China both building commercial links with sponsors and partners as well as building the club’s fan base.
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