MADRID: Atletico Madrid has reached agreement to buy La Peineta Stadium from city authorities for 30 million euros, Madrid Town Hall announced on Monday. The Spanish giants will move from the Vicente Calderon, their home for 50 years, to the new stadium to be renamed Wanda Metropolitano after their sponsors Chinese property company Dalian Wanda Group. Wanda has had ties with Atletico since January 2015 when it acquired 20percent of the club. “The payment will be made in three annual instalments, for a total of 30,422,520 euros, with interest,” a spokesman for Madrid Town Hall said. “In addition the club will take over the access work, for a total of 29.875 million euros and the construction of 4,000 public parking spaces.”