£0.18m Chinese investment for British soccer company

According to the ChinaDaily, the Chinese company Shanghai Xiaoyuan (Chinese: 上海晓苑文化传播有限公司) announced Thursday that it has acquired a 10% stake in the British soccer company Freestyle Football Ltd, which is said to be worth up to £0.18 million.

As stated in a local report, under this deal the two sides will co-operate in the development of Apps and videos that provide fans with freestyle football training lessons.

"They have a number of useful resources that will also help us to grow freestyle football across their vast home country of China, which is very exciting for the future of the sport. This investment will enable us to build a sustainable future for freestyle football." said Freestyle Football Ltd's CEO Dan Wood.

In addition to this, Xiaoyuan has obtained the copyright for the Melbourne Freestyle Football Championships 2016. It has also signed a letter of intent with CMT Learning, a U.K. football training agency.

Source: ChinaDaily

Proofread by John Devlin.