Future of Sport: A Global Sports Week x Viva Technology Collaboration, Will Open in June 14
12 Jun 2023 14:59
According to a report released by Liverpool Echo, Everton Football Club have agreed a three-year credit facility worth around £60m with the Industrial and Commercial Bank of China (ICBC).
ICBC is partly owned by the state-run company Central Huijin Investment. This is the first time the bank has partnered with a Premier League club.
“There are a number of reasons we’re delighted to reach this agreement with Everton,” said Jothann Durnall, relationship manager at ICBC London, “Not only is it our first partnership with a UK football club, but it’s exciting for us to partner with such an ambitious club.”
This lucrative deal is believed to help the Premier League club on the transfer market. The injection of cash will also be spent on the club’s daily operations. Instead of transferring the entire amount to the club, ICBC will open an account for the club and keep the money there.
Everton director Sasha Ryazantsev said: “We are pleased to have entered into a partnership with ICBC which will increase our financial flexibility, reduce refinancing risk and lower funding costs, while adding to the list of Everton’s ‘firsts’.”
Source: sports.qq.com
Proofread by Linda Barouk
Future of Sport: A Global Sports Week x Viva Technology Collaboration, Will Open in June 14
12 Jun 2023 14:59
Related coverage
Michael Leavy: Arsenal’s strategy is trying to bring Chinese fans closer
22 Aug 2016
CCTV to sponsor Chinese juniors visit to Etihad
26 Nov 2015
Eden Hazard joins Sina Sport’s star squad
25 Sep 2015
Tottenham Hotspur celebrates the Year of the Dog
10 Feb 2018
Arsenal extend its Tmall partnership
02 Aug 2017
More from Yutang Sports
SportAccord Media Partners will ensure global audiences are primed with latest news in sport
02 Mar 2024
Registration open - SportAccord World Sport & Business Summit
18 Dec 2023
SPORTACCORD 2024 INSIGHTS: Touchdowns, Home Runs and Slam Dunks
12 Jun 2024
Leading legal minds tackle athlete representation and rules for transgender athletes at LawAccord
16 Feb 2024
Birmingham Welcomes the World as SportAccord 2024 Kicks Off
08 Apr 2024
Yutang Sports
loading...