VivaTech takes the stage as the world's leading event for tech and startups
19 Jun 2023 18:33
As reported in an official statement released by Greentown China Holdings on December 28, its subsidiary company, Greentown Real Estate Group Company has purchased 50% shares in Zhejiang Greentown FC, a China League One club renamed from Hangzhou Greentown FC this month.
Prior to this deal, the club’s net worth up to May 31 2017 was assessed as RMB 663m. Reportedly, this acquisition deal cost Greentown Real Estate RMB 331m making Zhejiang Greentown FC a cooperative enterprise of Greentown China Holdings. Now, Greentown China Holdings have captured 90% shares in the club with the remaining 10% belonging to Zhejiang Greentown Education Investment Management Company Limited.
Founded in 1998, Zhejiang Greentown FC is the first ever professional football club in Zhejiang Province and also the only top-flight club in the province. In 2009, the club was renamed as Hangzhou Greentown FC and returned to its original name in December.
Over the past 19 years, the club has played in the Chinese Super League since 2007 and qualified for the AFC Champions League once in 2010. However, the club was relegated to the second-tier league, China League One, in 2016.
Source: Sohu
Proofread by Raymond Fitzpatrick
Related coverage
Beijing Guoan FC, a valuable property in Chinese soccer
07 Jan 2016
The lesson from Tianjin Teda FC’s incidental conflict against Quanjian Group
26 Jun 2015
Is it worth 8 billion yuan to acquire the CSL rights?
28 Sep 2015
Changchun Yatai partners Baicheng in youth training
24 Nov 2017
Osports named Shanghai SIPG exclusive image partner
24 May 2018
More from Yutang Sports
SportAccord Media Partners will ensure global audiences are primed with latest news in sport
02 Mar 2024
SportAccord 2024 - combating online abuse ‘chance for sport to show its power’
22 Mar 2024
Reasons why Leading Gold Partner Sport Event Denmark returns to SportAccord every year
08 Feb 2024
SportAccord scores Summit touchdown with NFL
18 Jan 2024
Discover the SportAccord Summit sessions!
31 Jan 2024
Yutang Sports
loading...