Granada deal nears completion

According to a report by Inside World Football, Chinese sports marketing company Desports’ investment in the Spanish club Granada CF is nearing completion.

As revealed in earlier reports, Desports (Chinese: 双刃剑) will have to pay €37 million for a 100% stake in the Spanish club. There had been strong rumours that the Italian Pozzi family, the owners of the club, had been talking with China’s Suning-backed PPTV. However, the two sides have failed to reach an agreement. 

“Desports is reported to now be closest to a deal and it could be completed within two weeks” says the recent report posted yesterday.

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.

Founded on 14 April 1931, Granada play their home matches at Estadio Nuevo Los Cármenes. The club avoided relegation from La Liga last season after finishing in 16th place.

Source: Inside World Football

Proofread by Sean O Diobhilin