Chinese businessman buys 20 per cent of Atletico Madrid

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Wanda Group Chairman Wang Jianlin speaks during an agreement ceremony with Atletico Madrid  Chinese businessman Wang Jianlin has bought 20 per cent of the shares in Spanish league champions Atletico Madrid, the club said Wednesday. The deal was sealed at a signing ceremony in Beijing at which Atletico president Enrique Cerezo was present, along with more than 200 journalists from different countries. Wang Jianlin is the president of the Dalian Wanda Group, one of China's most important construction companies, specializing in the building of luxury hotels and shopping centres. Atletico will open various youth academies in China as part of the deal, and the Atletico first team will do a pre-season tour of China in August. Later Wednesday, Atletico are to face Barcelona in a Spanish cup quarter-final first leg clash.