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What Wanda selling its shares means for Atlético

Quantum Pacific Capital bought the shares this week, but will the Wanda Metropolitano stay the same?

FBL-ESP-LIGA-ATLETICO-MALAGA-STADIUM Photo credit should read OSCAR DEL POZO/AFP/Getty Images

Earlier this week, Quantum Pacific Capital Ltd have increased their stake in Atlético Madrid from 17% to 32% by buying up Dalian Wanda Group’s share in the club, as the Chinese government continue to rope in people who owe them debt. Wanda has had to cut back on their assets, Atlético Madrid being the latest.

The owner of the group that bought the shares is an Israeli businessman, Idan Ofer, as Marca outline. He lives in London and is the son of Sammy Ofer, who has his name on the biggest stadium in Israel — Sammy Ofer de Haifa. Basically, it’s a very big corporation that he owns with his brother Eyal.

What does it mean for Atlético?

Precisely, nothing. The Wanda Metropolitano will remain the same because Wanda bought the naming rights for 10 years at €10 million a year and that deal is separate from the one that sees them sell their shares in the company.

Marca included a good graphic in their Thursday issue outlining the shares now in the team. As you can see, Miguel Ángel Gil Marín still owns 50 percent of the club’s shares, Enrique Cerezo owns 16 percent and Quantum have taken a leap in their shares with 32 percent ownership.