CEFC to purchase share of Czech football giant

As the president of Czech Republic, Mr Zeman attended the parade of the celebration of the victory of World War II. Football Association of Czech (FACA) announced that China Energy Company Limited (CEFC) purchased share of Praha Slavia, according to the official website 59.97%.

The website of Praha Slavia released CEFC would hold 59.97% of the share, while 39.97% is owned by Fly Sport and 0.06% by others. The board members believed that club could get stable invest and long-term development.

The intermediate of the purchase is the chairman of Sino-Czech friendship cooperation organization, he is a super fan of Slavia. Nedved, one of the most famous Czech football players also came to China in the delegation. That shows the football cooperation between China and Czech would be in a next stage.

Praha Slavia leads football development in a long time. But since 2010, the club was in a deep financial crisis and now in a debt of 4.6 million USD. The club had to sell their players to get through the difficult time.

Source: Netease