CSL team closed to be taken over at 1 billion yuan

Chinese football club Hangzhou Greentown have recently been linked up with a few companies, reported as several newspapers in China.

According to Qianjiang Evening News, the CSL team are in acquisition talks with a Shanghai-based online game company.

There are rumors that Hangzhou Greentown would possibly be taken over by the latter at 1 billion yuan.

Despite Du Ping, the executive director of Hangzhou Greentown FC, confirmed the link between the sides in a phone interview, he did not disclose the other party or any acquisition price.

But he insisted Hangzhou Greentown had been seeking for cooperative partners to get away from the consequences of spending too much.

A source revealed 1 billion yuan would be irresistible for Hangzhou Greentown but there was difference between the sides. The heads of the CSL team wished to retain 20% to 30% rights while the other party were interested in wholly taking over the club along with the youth teams.

This was not the first time Hangzhou Greentown was linked up with acquisition rumors. The most spread news was the linkup between Hangzhou Greentown and Jack Ma, the president Alibaba.

Source: National Business Daily