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Chinese investors to buy into ICC

Wednesday, 20 Jul 2016 12:00   |   By Chen Yaping

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New York-based Relevent Sports, owners of the International soccer tournament, the Champions Cup (ICC), are reportedly in discussions with Chinese investors.

Citing a source with knowledge of the details, Bloomberg report that the sports company is looking to sell a substantial stake in the ICC, which is said to be worth $300 million to $500 million.  It is believed that a deal is in the late stages.

The ICC is a three-year-old series of global exhibition games that has attracted fans in different countries. Three ICC games will be played in Shanghai, Beijing and Shenzhen. One of the most appetizing clashes is the upcoming Manchester United v Manchester City match on July 25 at the National Stadium in Beijing.

“You can’t plan for the president of China saying, ’We want to be the No. 1 soccer nation in the world in 2050,’” said Relevant Chairman Charlie Stillitano. “You can’t plan on those things. Part of that is just good fortune in this case.”

Source: Bloomberg

Proofread by Sean O Diobhilin

Tags: Manchester City,Man Utd,investment

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