Dalian Wanda closes Infront takeover

Chinese conglomerate Dalian Wanda has completed its acquisition of the majority shareholding in the Infront Sports & Media agency on Tuesday. The transaction was completed with all customary conditions being fulfilled. The deal, first announced in February, was completed with all customary conditions being fulfilled. The shares have been acquired from Bridgepoint, the European private equity firm, with the transaction valued at approximately €1.05bn ($1.17bn).

West Brom's £150million Chinese takeover confirmed

West Brom are set to be taken over before the first game of the season by new Chinese owners who have agreed to pay in excess of £150million. Albion have confirmed they have entered into an exclusive agreement to sell the Midlands club. Baggies owner Jeremy Peace has decided to cash in on his 88 per cent stake after receiving a massive offer from the Far East.

Vice-chairman of Li Ning resigns

Li Ning Co Ltd, one of the leading sports brand companies in China, said that Jin-Goon Kim, the former interim CEO, had resigned as executive director and executive vice-chairman with effect from July 4 to pursue other business commitments.Li Ning said Wu Jen-Wei, chairman of Johnson & Johnson China, had been appointed as a non-executive director effective from Aug 12.

CFA announced 58.com as title sponsor of China League One

The Chinese Football Association (CFA) held a press conference yesterday in Beijing to announce that 58.com is to become the new title sponsor of China League One, the second division of football league in China.The partnership will see 58.com, China’s largest classified site, add its name to China’s second-tier football league, ending the league’s 11-year sponsoring drought. The annual payment for the title sponsorship is believed to be at least 15 million RMB. 

Chinese company officially took over Sochaux

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.

Michael Owen boosted SoccerWorld’s campaigns in Nanjing China

A campus soccer campaign sponsored by SoccerWorld was launched yesterday in Nanjing China with the help from Michael Owen, a famous English footballer, at the ceremony. Michael Owen, as a current ambassador of SoccerWorld, was on a promotional tour in China.

PEAK Sports raise 680 million Hong Kong dollars

PEAK, a leading sports apparel brand in China, has recently announced a capital fundraising of 680 million Hong Kong dollars with the money financed through placement agents China International Capital Corporation Limited and BOCOM International Holdings Company Limited.

The purchase of Malaga close to completion

Recently, Jiang Lizhang, the president of Desports, confirmed that the purchase of Spanish football club Malaga by a Chinese company is going to be finished. Desports was a sports marketing company which played the role of intermediary in the purchase. This is the first time for one party of the purchase to verify the existence of the transaction.