How Chinese money chases European sports

New name, new home

For a club and its fans, the home stadium is more than just a stadium. It represents the sense of belonging.

For the last 50 years, Vicente Calderon stadium has been a collective memory for Atletico Madrid fans, who will soon have to say goodbye to this place they have called home.

Fernando Torres (R) of Atletico Madrid is seen as President of Atletico Madrid Enrique Cerezo (C) announces the name of their new stadium, Wanda Metropolitano, during a press conference at the Vicente Calderon stadium in Madrid, Spain on December 09, 2016. [Photo/IC]

Atletico will move to its new home in August 2017. Located to the northeast of the Spanish capital, the new stadium will be named the Wanda Metropolitano after its sponsor, Dalian Wanda Group.

The Chinese conglomerate had ties with Atletico since January 2015 when it acquired 20 percent of the club's shares.