SPORTACCORD confirms Istanbul as Host City for 2025 Convention
13 Mar 2025 23:29
Chinese hi-tech company Ledus on Monday officially took over FC Sochaux from carmakers Peugeot, making the French second division club the first in Europe under total Chinese control.
Peugeot announced on the same day that share transfer of the Ligue 2 club had been completely finished.
"It's the conclusion of a journey started almost a year ago," club president Denis Worbe said.
The deal, reportedly worth seven million euros, was set in motion in February by Hong Kong-listed electrical components manufacturer Ledus, a subsidiary of Tech Pro.
Ledus head Li Wing Sang, speaking at a press conference alongside Worbe, added: "We don't want to change anything in the club, we want to keep its culture and continue its history."
"We are here for the long term. We are not traders! We don't want to move anyone from the heart of the club."
"And we hope to go back up to Ligue 1 in the shortest time possible," he said, with a budget for next season higher than the last."
The goal, the Chinese businessman added, was "to make Sochaux an international brand to reach out to numerous markets".
Sochaux were set up by Peugeot in 1928 for their workers and the club's Auguste-Bonal stadium stands beside a Peugeot factory that still employs 10,000 workers.
Peugeot have in recent times focused on auto racing and tennis, while Sochaux, the first professional football team in France and who spent a record 66 seasons in the French top-flight, were relegated last year into Ligue 2.
Related coverage
Social sports APP Paidui raised US$2m in Pre-A Round
21 Oct 2015
China’s loved athlete Liu Xiang to retire
05 Apr 2015
Schalke cancel summer tour to China, rule trip as unprofitable
10 Jun 2015
Adidas CEO sees no slowdown in China
28 Aug 2015
CMC and Wanda bid $4.1 Billion for UFC
20 Jun 2016
More from Yutang Sports
When New tournaments Meets New Tech, the Old Friend of Football Has New Stories
14 Jul 2025
The United States Tops Skema Publika's First Annual Sport and Soft Power Ranking
27 Mar 2025
SPORTACCORD confirms Istanbul as Host City for 2025 Convention
13 Mar 2025
Hisense Named Official Partner of FIFA Club World Cup 2025
01 Nov 2024
Yutang Sports
loading...