Dalian Wanda Group has reached an agreement with the controlling shareholders of Club Atlético de Madrid, Miguel Ángel Gil Marín and Enrique Cerezo Torres, to come into the share capital of the Club.
Wanda Group’s capital contribution in the Club will allow Atlético de Madrid to significantly shore up its balance sheet, as well as accelerate the growth of its brand globally.
Wanda Group is a leading Chinese conglomerate operating in sectors such as entertainment, hotels and real estate with an extensive footprint in its domestic market and strong growth in Europe and the US.
We are delighted with the possibility of contributing to the growth of Atlético de Madrid with its solid fan base and a brand that is rapidly expanding internationally
With Total Assets over $62 billion, Annual Revenues exceeding $30 billion and net profits in excess of $2 billion, Wanda Group is the largest Chinese company in the entertainment industry and one of the largest worldwide.
Furthermore, Wanda Group has a deep knowledge and a long-standing presence in Chinese football, where it was the main sponsor of the Chinese Super League for several seasons. Wanda Group has been showing a constant support to the development of football in China, specially focused on the growth of grassroots football through China’s Future Star Program, in which Club Atlético de Madrid has also been actively collaborating for several years.
Both parties have agreed that the transaction will be implemented through a rights issue, in which all of the cash provided by the Wanda Group will be injected in the Club, thus benefiting all existing shareholders.
To this end, the Wanda Group has committed to subscribe a number of shares representing, after completion of the capital increase proposed which the Club’s Board of Directors will immediately submit to the General Shareholders’ Meeting, a 20% equity share of Club Atlético de Madrid, through a €45 million investment.
This is a major step for the Club in its efforts to build a leading global brand
Wang Jianlin, Chairman of Wanda Group, commented on the agreement: "Wanda’s investment in Atlético de Madrid is another step in our efforts to build a comprehensive entertainment portfolio for our domestic and international clients. We are delighted with the possibility of contributing to the growth of Atlético de Madrid with its solid fan base and a brand that is rapidly expanding internationally. We will also rely on their great experience in the training area, which will no doubt be very useful for the growth of grassroots football in China."
Miguel Ángel Gil Marín said that "this is a major step for the Club in its efforts to build a leading global brand that will provide the financial resources to remain competitive in Europe and provide riveting experiences for our fans."