Interview with Andreas Zagklis: to keep popularization of basketball with all-round strategy
08 Jul 2024 16:14
A US$4.6 billion (S$6.45bn) deal struck earlier this year between Chinese e-commerce giant Alibaba and Suning Appliances could potentially see Jiangsu Sainity ruled ineligible for the Champions League.
In August this year, Suning, which owns the Chinese Super League (CSL) club Jiangsu Sainity, sold a 19.99 percent stake in their group company to Alibaba for a reported $4.6bn, making Alibaba the second largest shareholder.
Before this latest acquisition, Alibaba had already acquired a 50 % stake in this year’s AFC Champions League (ACL) winners and five-time defending Chinese Super League champions, Guangzhou Evergrande, under a deal struck last year. That means Alibaba now has two CSL clubs under its ownership.
The Asian Football Confederation (AFC), however, has strict rules when it comes to cross-ownership of clubs, especially those competing in the same competition.
Article 15.3 of the AFC Statutes states: “The Member Association shall ensure that no natural or legal person (including holding companies and subsidiaries) exercise third-party control over more than one club or group whenever the integrity of any match or competition could be jeopardised.”
There are interesting times ahead as this will be the case next year with Guangzhou and Jiangsu both qualifying automatically for the ACL.
Source: fourfourtwo
Proofread by John Devlin
Interview with Andreas Zagklis: to keep popularization of basketball with all-round strategy
08 Jul 2024 16:14
Related coverage
Head of CSL held talks with NFL deputy CEO
21 Apr 2015
Sports topics at the “Two Sessions”: What have delegates at the NPC and members of CPPCC said?
08 Mar 2018
VASTO sponsors Evergrande Football School
31 Aug 2015
CSL teams up with iRENA on mobile games
04 Nov 2015
2015 CSL First Round TV Rating Report
12 Mar 2015
More from Yutang Sports
Interview with Andreas Zagklis: to keep popularization of basketball with all-round strategy
08 Jul 2024
Hisense Named Official Partner of FIFA Club World Cup 2025
01 Nov 2024
Interview with Yiannis Exarchos: to narrate Olympic story in new ways and promote positive values
01 Jul 2024
SPORTACCORD 2024 INSIGHTS: Touchdowns, Home Runs and Slam Dunks
12 Jun 2024
SPORTACCORD confirms Istanbul as Host City for 2025 Convention
13 Mar 2025
Yutang Sports
loading...