Mexico: TV Azteca acquires first division Club Atlas for €37 million

Mexican broadcaster, TV Azteca, has acquired the shares of 124 shareholders of the Club Atlas de Guadalajara (Liga MX, Mexican first division) for $50 million (€37 million), announced Eugenio Ruiz, president of the club, on the 25/11/2013. The agreement will ease the financial problems of the club, who are in arrears over player and staff wages.

"This is a historic day, said Eugenio Ruiz on the 25/11/2013. A company with these characteristics guarantees that Atlas can continue being a top-level team that aspires to the championship," he added.

The broadcast group, owned by billionaire businessman Ricardo Salinas, have already had a team in the Mexican first division, namely CA Monarcas Morelia, since 1996. In May 2013, Mexico’s 18 Liga MX clubs voted in favour of a proposal to ban one person or company from owning more than one team within a five-year timeframe.