Xu Genbao to sell Lorca FC

Chinese veteran coach Xu Genbao is inclined to sell the Spanish La Liga 2 club, Lorca Fútbol Club, as he revealed in an interview with Oriental Sports Daily.

Xu said several investors have shown their interest by making offers that are “not lower than his purchasing price.” One reason for the expected ownership transfer is that Xu cannot balance the club management and his coaching work in Shanghai.

Xu started his coaching career in 1978. He was the manager of two of the largest Chinese football clubs—Shanghai Shenhua and Dalian Wanda. He has also established a football training base in Shanghai to help develop young football players.

Recently, the 74-year-old led the Shanghai Men’s U18 Football Team to take the crown at the 13th National Games.

Xu acquired the then Spain’s third division club for €1.3 million in 2015 and changed its name from La Hoya Lorca CF to Lorca Fútbol Club. He helped the club achieve a promotion to La Liga 2 in May of this year. 

According to an earlier Marca report, the Chinese owner, tired of the club’s serious financial straits and rejection from local communities, has agreed to a €10 million deal with a Spanish investment group.

Source: 163

Proofread by William Logsdon