10 Chinese companies snap up top overseas sports teams
(chinadaily.com.cn) Updated: 2016-08-01 07:272 CMC & CITIC
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Players of the starting line-up of Manchester City before competing against Borussia Dortmund during the Shenzhen match of the 2016 International Champions Cup China in Shenzhen city, south China's Guangdong province, July 28 2016. [Photo/IC] |
Chinese investors China Media Capital (CMC), a public equity and venture capital firm, and CITIC Capital, a Sate-owned investment company, have bought a 13 percent stake in the parent company of Manchester City Football Club for $400 million (377 million euros) on Dec 1, 2015.
The City Football Group is a holding company established to oversee the creation and administration of a network of linked clubs and other football operations under the aegis of Manchester City.
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