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TV Azteca buys Club Atlas for $50 million

November 26, 2013

Guadalajara soccer franchise Club Atlas has been sold to Mexican broadcaster TV Azteca for around 50 million dollars, Club President Eugenio Ruiz confirmed on Monday.

Owned by billionaire businessman Ricardo Salinas, TV Azteca will have the financial clout to revive Atlas, who are currently over 20 million dollars in debt and have not won a Mexican league title since 1951.

“A company with these characteristics guarantees that Atlas can continue being a top-level team that aspires to the championship,” Ruiz said.

However, the sale raises questions about multi-ownership in Mexican soccer. TV Azteca already owns Monarcas Morelia, who also compete in Mexico’s top division, the Liga MX. Likewise, Carlos Slim part-owns both Pachuca and Leon through his 30-percent stake in Grupo Pachuca.

The Mexican Football Federation (FMF) had planned to phase out multi-ownership of clubs by 2018, but the sale of Atlas to TV Azteca will only make this process more complicated.

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