Mexican commercial broadcaster TV Azteca has acquired its second Liga MX football club after agreeing a takeover deal for Guadalajara-based Atlas.
Atlas president Eugenio Ruiz said the agreement is worth around $50m (€36.8m), with TV Azteca’s investment set to aid the financial fortunes of Atlas, which is said to be behind on payments to its players and managers.
“It was a tough decision but we feel sure of what we've done because we're thinking of Atlas's future and a company like this (TV Azteca) guarantees that Atlas will continue to be a first division team with championship aspirations,” Ruiz said, according to the Reuters news agency.
TV Azteca, owned by billionaire businessman Ricardo Salinas, already owns another Liga MX team in the shape of Monarcas Morelia.
In May, 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.
The vote was interpreted as a means of preventing multi-billionaire business magnate Carlos Slim’s telecommunications company, América Móvil, from expanding its influence in the Mexican game.