In this week's China sports industry round-up: China’s leadership targets marathon and cycling; another Chinese boss reined in by the state; and cities begin jostling for 2036 Olympics
In this week's China sports industry round-up: Xi Jinping’s term extension supports football reforms; Wanda leaves Atlético, looks inward; and Tmall sponsors Renault F1 team
Dermot Ledwith speaks to Fernando Fariza at Atlético Madrid about the club’s recent move across the city to the Wanda Metropolitano.
Quantum Pacific Group, an entity led by Israeli billionaire Idan Ofer, has taken a 15 per cent stake in Atlético Madrid through a deal that will see a reduction of the shareholdings held by president Enrique Cerezo, chief executive Miguel Angel Gil Marin and Chinese conglomerate Wanda Group.
Atlético Madrid has posted a post-tax profit of €3.9m ($4.2m) for 2015-16, signalling a further improvement in the Spanish LaLiga football club’s financial outlook.