Chinese millionaire Chen Feng reportedly eyeing Espanyol

After Chinese group Fosun and U.S. investment firm Cerberus’ unsuccessful negotiation with La Liga side Espanyol in June, Chinese millionaire Chen Feng, owner of aviation and shipping conglomerate HNA Group, is "reportedly becoming the latest interested party to buy a stake in Espanyol," according to Alberto Martínez of AS. 

Pericosonline reported Chen's intention is to "acquire shares from the club's majority shareholders to become the owner of the team." 

Sources said that "the first contact between the parties has already taken place," but Espanyol's majority shareholders denied that these talks have been held. They "did, however, confirm their intention to sell their shares." 

It was reported that Espanyol's Board of Shareholders would have to confirm the operation. This "could be delayed for a year" because the club has to wait to receive its TV revenue, which is increasing to €34M ($38M) annually, and settle some payments with Spain's tax authorities. 

This is not the first operation to arrive to Espanyol majority shareholder Dani Sánchez Llibre. Chinese group Fosun and U.S. investment firm Cerberus negotiated with the club in June "without success".

Taken from Sportsbusiness