Future of Sport: A Global Sports Week x Viva Technology Collaboration, Will Open in June 14
12 Jun 2023 14:59
A group of Chinese investors have agreed to buy a 70% stake in Sport Uniao Sintrense, a Portuguese club located in the town of Sintra, in the Lisbon district.
The investment group is led by Zhan Liang, President of the Portugal-based company Iberia Universal Lda. The other investor is Cheng Jun, founder of Shanghai-based investment company Realway Capital.
One month ago, Shanghai Entrepreneur Association promised an investment of around 10 billion euros in Portugal, including the field of sports.
The acquisition aims to “diversify the businesses of Iberia and expand into the sports market, which is something we have not done before." says an Iberia official statement.
The new owners of the club hope to build a competitive team, "with the goal of dignifying the Sintrense image and tell the story of a 105-year-old club."
The club, founded in 1911, is currently playing in the Portuguese National Championship Senior Football League, the third-tier football league in the country.
Source: sol.sapo.pt
Proofread by Sean O Diobhilin
Future of Sport: A Global Sports Week x Viva Technology Collaboration, Will Open in June 14
12 Jun 2023 14:59
Related coverage
Haiqiu Technology completes first round of financing
07 Dec 2016
11 Jan 2016
China's cycling site Wildto secured RMB20m from angel investor
17 Aug 2015
Chinese company officially took over Sochaux
07 Jul 2015
Grandland Decoration invests RMB150m in Evergrande FC
27 Nov 2015
More from Yutang Sports
Interview Part I with Martin Gibbs, Managing Director of SportAccord: the Power of Sport Is Real
21 Mar 2024
Expert insight | New changes on UEFA EUROs: growing maturity of Hisense and other Chinese brands
22 Jul 2024
SportAccord's interview with Sarah Gregorius: proactive actions are necessary to tackle online abuse
28 Apr 2024
SportAccord scores Summit touchdown with NFL
18 Jan 2024
SPORTACCORD 2024 INSIGHTS: Major Technology Trends Shaping Sports Sector
03 Jun 2024
Yutang Sports
loading...