Report: Chinese investors to acquire Granada

Chinese sports marketing company Desports is reportedly set to enter into a deal for the takeover of La Liga side Granada CF, according to the Spanish newspaper Marca.

The report said Desports will have to pay €37 million for a 100% stake in the Spanish club. Desports’ partner, MBS, a Spain-based brokerage firm led by Pere Guardiola, has played a significant part in this deal. Guardiola would be named as the new President at Granada if the deal were to be officially inked.

But before it becomes official, the Chinese investors reportedly need to make the first payment to Granada’s owners, the Pozzo Family, within 15 days.

If the Spanish club were taken over by Chinese investors, there would be a Chinese Derby in the Spanish top-flight soccer league as China's Rastar Group has already bought Spanish club Espanyol.

Granada CF is currently owned by the Italian Pozzo family, who also own Italian club Udinese and Premier League side Watford.

Source: Marca

Proofread by Sean O Diobhilin