CMC to set up amateur football company

Shanghai-based China Media Capital (CMC) has recently announced a partnership with the City Football Development Council (CFDC). Earlier on the same day (April 11th), China launched The Mid-and-Long-Term Development Plan for Chinese Football, with the ambition to become one of the world’s top teams by 2050.

The two sides have agreed to set up a joint-stock company, to promote the development of amateur football in China. It is said that CMC is to acquire a 51% share in the to-be-established company.

As CMC President Li Ruigang said, “Football is one of the most popular sports in China. Amateur football events and leagues will lay the foundations for the football industry to thrive, so it’s an important step for us to partner with CFDC. ”

CFDC was set up by the city football associations of Chengdu, Wuhan, Dalian, Qingdao and Shenzhen in 2015. With the help of its current 9 member institutions, CFDC operates under the rules of the Chinese Football Association.

Source: Sina

Proofread by John Devlin.