Wanda to buy stake in Atlético

Commercial property developer Dalian Wanda Group plans to invest 50 million euros ($63.3 million) to acquire a 20 percent stake in El Atlético de Madrid, one of Spain's leading soccer clubs, a Spanish online newspaper Libertad Digital reported Tuesday.

Wang Jianlin, chairman of Wanda, would be entitled to decision-making rights regarding the club management, said the report. Wanda cannot be reached for comment by press time.