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Real Madrid keen to develop brand in China but denies buying stake in club
BEIJING - Spanish football giant Real Madrid is negotiating with the CITIC
Group, China's largest financial conglomerate, to develop its brand in China but
has denied buying into a Chinese club. "The club wants to make it clear that it has not acquired a stake in any teams," it said in a statement carried by People's Daily. But it admitted it wanted to do more to develop the Real Madrid brand in China. It said it was negotiating with CITIC, which owns Beijing Guo'an, on a collaboration agreement "to develop the Real Madrid brand in China, and to allow Real to help in the development of professional football in the country". Real's arch-rival Barcelona was also linked last year with Beijing Guo'an. Real used China as a pre-season training base in 2003 and proved a big hit, largely due to David Beckham who made his world debut for the club here after his move from Manchester United. The team is due back in China in July for a friendly against a Beijing side.
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