Atletico's owner Wanda to buy more sports firms

FRENCH PRESS AGENCY - AFP
SHANGHAI
Published 24.06.2015 22:35

Chinese property and entertainment giant Wanda Group, which formally took a 20 percent stake in Spanish football club Atletico Madrid in April, will buy at least three more sports companies this year, its chairman said. "Within this year, Wanda will still buy at least three sports companies," Xinhua quoted chairman Wang Jianlin as saying. "Upon the completion of these mergers and acquisitions, Wanda is going to be the world number one in the sports industry." As well as the 45 million euro Atletico share, Wanda this year paid 1.05 billion euros for Swiss sports marketing group Infront, which is headed by the nephew of outgoing FIFA president Sepp Blatter and holds some broadcasting rights to the World Cup.

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