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Wang Jailing, the richest man in China is set to buy a 20% stake in
Spanish club, Atletico Madrid, according to reports.
Wang who also controls Dalian Wanda Group will pay €40 million for a 20% stake in the deal after he meets with the board of directors of the club.
As part of the deal, Atletico Madrid have committed to a pre-season tour in Beijing next summer and will open five academies in China.