Chinese real estate giant Wanda Group announced Wednesday that it has bought a 20 percent stake in reigning Spanish champion Atletico Madrid for 45 million euros ($52 million).
The two groups will combine to open three football schools in China, and each year Atletico will be invited to play in China to “bring advanced training and playing experience from Europe,” according to a statement posted on Wanda’s microblog.
They will also jointly invest 30 million euros ($35 million) to create a youth center in Madrid to provide better training conditions for Chinese youth players, with Atletico to provide special training programs for Chinese youths.
Wanda already funds a youth training project that has taken young Chinese players to Spain.
Dalian Wanda Group’s founder and chairman Wang Jianlin is one of China’s richest men. The company operates dozens of hotels, shopping malls and cinemas in China, and has undertaken hotel development projects in London and New York City.
Rodriguez on the move
Meanwhile, Uruguayan international midfielder Cristian Rodriguez has moved on loan to Serie A strugglers Parma from Atletico until the end of the season, the Spanish side said on Tuesday.
The 29-year-old has failed to break into the first team since signing from Porto in 2012 and has spent a lot of time on the bench, including last season’s Champions League final defeat to Real Madrid -- this season he has started just two games.
Rodriguez, who missed out on selection for the 2010 World Cup finals after being banned for four matches although he did appear at last year’s edition, enjoyed a more successful time at Porto where he was a member of three title-winning sides and the 2011 Europa League trophy.
Parma will require all the 80-times capped 2011 Copa America winner’s combativeness as they are presently bottom of the Serie A table after 19 matches, nine points adrift of safety.
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