Wanda invests in football dreams

Wang Jianlin, Dalian Wanda Group chairman, holds an Atletico Madrid shirt, flanked by Atletico Madrid's President Enrique Cerezo (right) and managing director Miguel Angel Gil in Beijing on Wednesday. Wanda took a 20 percent stake in the Spanish La Liga soccer club. Xinhua

On Wednesday, Dalian Wanda Group, one of China's enterprise giants, announced it was investing 45 million euros ($52 million) on purchasing 20 percent shares of Atlético de Madrid, thus becoming its second largest shareholder. Wang Jianlin, Wanda's boss, said it would "help homegrown football players and narrow the gap between China and the rest of the world". Comments:

It is interesting to notice a Spanish media report earlier. It said that Wanda could invest 6 billion in building a complex only 8 kilometers from Sun Gate Square at the center of Madrid, which is to include 15,000 luxurious houses and shopping malls, parks even a casino.

21 Century Business Herald, Jan 22

Wanda said its investment will help young Chinese footballers training in Spain enter high-level clubs more easily. Why didn't it invest in China's own soccer clubs? Obviously, it is the still rampant corruption that has ruined China's football and investors' confidence as well. Time to end that.

Hainan Special Zone News, Jan 22

Even if Wanda has more ambitious plans such as real estate developments and makes football only a small part of its investment, we do hope the move can boost development of the football industry as a whole, not only in Spain, but also in China.

jinbaonet.com, Jan 22