Fosun teams super-agent to tap Chinese soccer industry

Fosun Entertainment HK，a subsidiary of Fosun International Limited, has struck strategic partnership with super soccer agent Jorge Mendes' START S.A to tap China's soccer industry, according to China Securities.

Under the agreements, Fosun Entertainment buys into START S.A for reported €2m and the sides will launch a joint venture to explore relevant businesses in China.

Guo Guangchang, holder of Fosun International Limited and a renowned investor in the country, commented that Mendes will help develop China's sports industry, soccer particularly.

“Mr Mendes is a best partner and friend of mine in sports sector and I'm deeply honored to work together with him to realize the dream of (high-profile) sports industry. There is great potential in China's soccer industry and sports industry. I believe a world-class master like Mr Mendes will be of great help to us”, Mr Guo said.

“He has achieved remarkable successes over the last two decades, which is valuable to Chinese soccer”, Guo added, “I believe the (soccer) players and supporters will personally see the extraordinariness of Mr Mendes in the near future”.

And the Portuguese also looks forward to the alliance with Fosun to develop Chinese soccer industry, saying “I'm very delighted to involve and help Chinese soccer become new emerging forces in the soccer world”.

Source: China Securities