"He died a few minutes ago. He did not survive the cardiac arrest and died in the intensive care unit," a spokeswoman for Madrid's Hospital Clinic told AFP. At least 11 other people were injured, emergency medics said.
Police confirmed that 24 people had been arrested in the incidents that took place in the streets parallel to the Manzanares river surrounding the Calderon.
Emergency services said that the 43-year-old, who is believed to be a Deportivo supporter, had also suffered hypothermia and head injuries after having to be rescued from the river by firefighters.
Among those arrested are members of the Atletico and Deportivo ultra groups, Frente Atletico and Riazor Blues, as well ultras from the Bukaneros and Alkor Hooligans groups who follow Madrid-based sides Rayo Vallecano and Alcorcon.
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Spanish minister for Culture, education and sport, Jose Ignacio Wert, has called a meeting with the anti-violence commission for Monday morning.
"The incidents we have seen today are the type of things we never want to see in sport," he said.
The presidents of both sides addressed the media following the match to condemn the violence.
"I repeat that neither Atletico Madrid nor Deportivo have anything to do with these radical groups that have their own histories and stories.