Chengdu Sports Investment Group get control of Lander Sports

Chinese sports company Lander Sports published an announcement on June 9, saying that they had completed the process of changing the company’s controlling stakeholder with Chengdu Sports Investment Group becoming the company’s  new controlling stakeholder . 

Lander Holdings Group (Lander Holdings), the original controller of Lander Sports, transferred 385 million shares to Chengdu Sports Investment Group, whilst keeping 17.8% of the shares in Lander Sports. Chengdu Sports Investment Group currently holds 29.9% of the shares in Lander Sports, becoming the largest shareholder. As a result, the actual controller of Lander Sports has become State-owned Assets Supervision and Administration Commission of Chengdu Municipal Government who owns Chengdu Sports Investment Group. 

Chengdu Sports Investment Group was founded in November 2018 with a registered CNY2bn capital by a company from the State-owned Assets Supervision and Administration Commission of Chengdu Municipal Government. Its goal is to become an internationally renowned first-tier comprehensive Chinese sports industry group, with six main business areas - venue development and operation, sports events operation, sports training, sports equipment, smart sports and sports finance. 

The company’s establishment is also associated with the Chengdu government’s vision of building itself into an internationally well-known sports city. To realize this vision, the municipal government recently published its three-year plan (2018-2020). 

The partial acquisition of Lander Sports is obviously aligned with this vision, as Lander Sports have many resources in areas such as sports finance, sports events and sports training. For example, they have ownership or operate the following sports properties including Zhejiang Women’s Ice Hockey Team, Zhejiang Women’s Curling Team, Chongqing Women’s Professional Football Club, Stankovic Continental Champions Cup. The President of Lander Holdings, has also personally invested in the Premier League club Southampton FC, although this may not be directly counted as an investment of Lander Sports. 

Reference:www.jrtzb.com 

Proofread by Raymond Fitzpatrick