Chinese billionaire Wang Jianlin joins the stakeholders of Spanish Football Club Atletico Madrid. He recently bought a 20% stake of the team worth US $52 million. Part of the reason he bought into the team is to diversify his business empire.

Jianlin leads China's largest property company, Dalian Wanda. For years, he has been buying different foreign brands even though the domestic real estate market of the country isn't all that strong.

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Just a few of his recent acquisitions include a cinema chain in the United States as well as a British luxury yachtmaker in Britain.

In a statement Jianlin released after buying into the team, he said that his new investment will help in providing opportunities for young Chinese soccer players to be sent overseas by Wanda.

These players would then have the chance to be selected by top European football clubs.

"It will also strengthen the quality of Chinese football and narrow the gap between the rest of the world," he adds.

Last season, Atletico Madrid had won the title in Spain's primary football competition, the La Liga. As an added testament to their team's formidable strength, they were also finalists in the UEFA Championship League.

While the team has been doing well, the same cannot be said for their financial state. They have been struggling financially, collecting debts as much as EU €500 million.

Jianlin's purchase could help the team out in this respect. In addition, his purchase could also bring in new fans from China as well as Asian markets.

Jianlin is China's second richest man in the country, right behind Alibaba boss Jack Ma.

It is well known that the 60-year old Jianlin is a big soccer fan. He has owned successful Chinese teams from 1994 to 2000.

For future endeavours, Jianlin envisions opening an amusement park in China that could rival Disney. He was also in talks of buying the Hollywood cinema that was behind the movie Hunger Games, Lions Gate Entertainment.

TagsAtletico Madrid, Dalian Wanda, Stakeholder