A CHINESE billionaire has bought a 20% stake in current La Liga champions Atletico Madrid.

Wang Jianlin, who has an estimated fortune of €15.5 billion, met with Atletico chairman Enrique Cerezo in Beijing this week.

The 42nd richest man in the world according to Forbes magazine, he is also said to be a keen football fan and will pay €40 million for his stake.

Atletico, currently third in La Liga and still in the Champions League, have had well-documented problems with debt in recent years despite their success on the pitch.

 

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