The Dalian Wanda Group, a Chinese conglomerate, has bought a 20% stake in La Liga outfit Atletico Madrid for €45m.
The investment is expected to prop up the current Spanish champions as they bid to stamp their brand globally with continued success on the pitch.
A statement released by the club website read saluted the impact the investment can have at the Vicente Calderon.
"Wanda Group's capital contribution in the club will allow Atletico to significantly shore up its balance sheet, as well as accelerate the growth of its brand globally.
"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.
relatedNewsStory
"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 per cent equity share of Atletico Madrid through a 45million euro investment.
"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.
"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."
Atletico Madrid’s president Enrique Cerezo, who also holds a significant stake in the club, has expressed his happiness at the Chinese investment.
"This is magnificent for our club. That a company like Wanda becomes a shareholders of Atletico is fantastic for the team and for all of our fans.
"We are going to be able to do a lot more things with Wanda on board.
"Wanda's investment will be very important for the economy of the club”, he concluded.
Atletico Madrid have been on an upward trajectory under manager Diego Simeone and they currently sit third in the league table behind Real Madrid and Barcelona.
Los Rojiblancos are due to play Barcelona in their Spanish Cup quarter-final first leg tie tonight.
Don't bet on football until you've visited Inside Bet! Interesting markets, top tips, betting facts – get all the info before you bet.
