10 Chinese companies snap up top overseas sports teams
(chinadaily.com.cn) Updated: 2016-08-01 07:278 Recon Group
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Aaron Lewis of Swansea City AFC U21 versus Aston Villa FC U21, Play Off semi final, Liberty Stadium, Swansea, Britain on April 25, 2016. [Photo/IC] |
Recon Group, a Chinese conglomerate, announced on July 18 it had acquired Aston Villa FC, with the aim to return the club to the English Premier League.
The deal for the 142-year-old club is worth 76.5 million pounds ($101 million; 91 million euros), with the Chinese buyers shouldering 24.5 million pounds in debt.
Xia Jiantong, aka Tony Xia, chairman of Recon, says he hopes the purchase of an established club with mature scouting and training programs will bring experience to Chinese soccer.
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