PPTV Sports sets eyes on La Liga side Granada

PPTV Sports, the sports unit of leading Chinese online streaming company PPTV backed by e-commerce giant Suning, is reported to have set its eyes on the takeover of La Liga side Granada, according to Sergio Fernández of MARCA.

According to MARCA, the Chinese group had previously taken an interest in another La Liga side Málaga  (almost managing to close a deal to buy the club), Espanyol and a number of other European clubs before turning its attentions to Granada.

However, negotiations with Gino Pozzo, the owner of the club, are currently at a stalemate. While PPTV Sports were willing to shell out almost 60 million euros to purchase Málaga, the Chinese group look to be taking a more conservative approach in this instance. The Costa del Sol club had high debts, which would have made that transaction even more expensive.

In the case of Granada, though, with a much healthier set of accounts, the bid does not even amount to 40 million euros. Unsurprisingly, the Italian owner's first response was to reject the offer, with the President and Director of Football also in agreement.

In any event, if the talks do turn out to be fruitful - and inside sources believe that they will - both the president, Quique Pina, and the director of football, Juan Carlos Cordero, will leave the club.

PPTV also owns the rights to La Liga in China, giving the group added credibility as an investor. For the time being, though, the talks are at a standstill because Pozzo refuses to sell the club under the terms of the present offer.

Source: MARCA

Proofread by John Devlin