BEIJING, March. 24 -- Spanish soccer giant Real Madrid has bought a stake in local Chinese club Beijing.

    The Beijing soccer club will now change it's name to Beijing Real Madrid Guoan.

    Chinese media reports that the change will take place once the two sides have signed the deal.

    The latest development came after a week of negotiations between the local club and the Spanish giants.

    Negotiations are still in progress and no figures for the purchase of the stake have been released.

    (Source: CRIENGLISH.com)