SPORTACCORD 2024 INSIGHTS: Sport’s Perfect Storm
23 May 2024 14:34
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
Related coverage
Chinese United Travel invests in new sports fund
12 Oct 2015
Chinese Communist Youth League created fund for university sports
06 Sep 2016
Sevilla plan summer Chinese Tour
20 Jan 2016
Chinese reportedly eyeing biggest F1 stake in $8.5bn bid
19 Oct 2015
Hao Haidong embraces soccer video game industry
18 Sep 2017
More from Yutang Sports
Interview with Andreas Zagklis: to keep popularization of basketball with all-round strategy
08 Jul 2024
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
SPORTACCORD 2024 INSIGHTS: How Gaming is Changing our World
07 May 2024
Hisense Named Official Partner of FIFA Club World Cup 2025
01 Nov 2024
Yutang Sports
loading...