Evergrande Group increased capitals for Guangzhou Evergrande FC

‍‍‍‍Guangzhou Evergrande announced yesterday that the club had undergone a change in its stake structure, with Evergrande Group providing more capitals and holding 60 percent of the stakes, while Alibaba’s stakes decreased to 40 percent. 

CEO of the club was also changed. Ke Peng replaced Zhang Yong, becoming the new CEO. 

Evergrande Group made two new primary investments this time. The first one is that they made all football students of Evergrande Football School a part of the club’s assets. Another one is giving 400 million yuan to the club.

According to some data, overall investments to the Evergrande Football School were over 1.8 billion yuan, and nearly 3,000 young players are accepting training in the school and the number is still increasing. Some experts pointed out that with the assistant of the investment the club’s estimated value may have increased significantly compared to the 2.4 billion yuan a year ago and it has a potential to become the first club in Asia with values over dozens of billions yuan. 

The announcement said that Evergrande and Alibaba remain the two largest shareholders and would continue to cooperate deeply. The club’s operation is not influenced. 

Source: NetEase