China’s Wanda win naming rights to new Atletico stadium

Madrid: Atletico Madrid’s new stadium will be called Wanda Metropolitano after China’s Wanda Group, a 20 per cent shareholder in the Spanish giants, won the naming rights, Atletico president Enrique Cerezo said on Friday.

Wanda acquired the 20 per cent stake in the Champions League finalists for 44.98 million euros (Dh171 million) in April 2015, as Chinese firms and businessmen plough cash into some of European football’s biggest clubs.

Atletico plan to move into the new ground on the northeast side of Madrid from next season after 50 years at the Vicente Calderon.

Prior to moving to the Calderon, Atletico played in the Metropolitano stadium between 1923 and 1966.