Wanda lands 20% stake in Atletico Madrid

It may not be long before Chinese soccer players are challenging elite performers like Lionel Messi on the world stage.

A landmark investment by Wang Jianlin, China's second-richest man, has paved the way for the young hopefuls.

Chinese real estate giant Dalian Wanda Group Co said on Wednesday it has bought a 20 percent stake in leading Spanish club Atletico Madrid for 45 million euros ($52 million), becoming the first Chinese company to invest in a major European soccer team.

Atletico, which won La Liga, Spain's top division, in the 2013-14 season, will provide tailor-made training for young Chinese players in Spain and be involved in Wanda's soccer school program in China.

Wang, chairman of Wanda Group, announcing the investment in Beijing on Wednesday, said, "If three to five Chinese players can manage to ply their trade successfully in top European leagues, then we are not burning money."

Under the agreement, Wanda and Atletico will jointly invest 30 million euros to build a training center for Chinese juniors sent to Spain as part of the company's Future Star youth program with the Chinese Football Association.

Atletico Madrid will also provide technical support and coaching expertise for Wanda's three soccer academies to be built in China.

The cooperation with Atletico is the company's latest initiative under its multiyear deal with the CFA.

The deal, aimed at boosting the game's profile, was reached in July 2011 and renewed in 2014, with investment of more than 500 million yuan ($80.5 million).

By 2017, Wanda aims to invest 20 million euros annually to support the development of 180 young Chinese players in Spain, according to a statement released on Wednesday.

"I wouldn't rule out Wanda acquiring another soccer club in Europe if this partnership goes well," Wang said. "We want to train more homegrown players and narrow the gap between China and the rest of the world."

Zhang Qing, a senior sports-marketing consultant, said Wanda's investment is a real bargain.

"Spending 45 million euros for a 20 percent share is well worth the money as an attempt to show social responsibility in helping the game from grassroots level, and as a branding campaign for Wanda's business overseas," said Zhang, founder and CEO of sports marketing agency Key-Sports.

Zhang said Wanda's involvement in soccer development, which has been an influential issue concerning China's top leaders, is a strategic move in line with expansion of its business empire.

Founded in 1988, Wanda operates in four major industries - commercial property, hotel development, culture and tourism - as well as shopping malls. The company had assets of 380 billion yuan and net profits of more than 12.5 billion yuan in 2013, according to its website.

Wang appears to have a passion for Spain. His company has bought a landmark commercial project in Madrid for 2.25 billion yuan from Spanish bank Banco Santander.

Contact the writer at lvchang@chinadaily.com.cn