Spanish soccer giants Atletico Madrid have confirmed that Chinese conglomerate Dalian Wanda Group has sold its stake in the club to Quantum Pacific.
The Idan Ofer-owned company, which last year purchased a 15 per cent stake in the La Liga outfit for €50 million, will increase its share to 32 per cent after acquiring the 17 per cent of Atletico that Wang Jianlin’s Wanda has owned since 2015. The sale is still awaiting clearance from the Spanish Superior Council of Sports.
Atletico said in a statement that the share sale will not affect Wanda’s role as a sponsor or alter the naming rights to the team’s new stadium, which is called Wanda Metropolitano. The club added that Wanda’s decision to divest itself of its shares is part of a global strategy, and emphasised that they will continue to mutually collaborate with the company on new initiatives in the coming months.
Under the terms of the deal, Atletico’s chief executive Miguel Angel Gil and president Enrique Cerezo will remain the majority shareholders of the team.
The news comes ahead of the first leg of Atletico’s last 16 Uefa Europa League tie against FC Copenhagen on Thursday. They return to league action against Athletic Bilbao on Sunday, when they will be hoping to close the gap on league leaders Barcelona.