Business / Companies

Guangzhou developer to step up soccer input

By Qiu Quanlin In Guangzhou (China Daily) Updated: 2015-02-05 08:36

"Three years ago, when we first invested in the club, we visited our European counterparts, and learned from them on how to go about the soccer business," Lu said.

In the Chinese league, more than half of the soccer clubs are invested by property developers including Evergrande Group, Greentown China Holdings Ltd and Greenland Group.

"Investing in soccer is quite different from the property business. We need the government's support to build sports facilities," Lu said.

Chinese property developers' growing interests in sports investment was prompted by the country's plan to expand the sports industry, according to industry sources.

"The investment, in return, would help promote the property business of investors," said Yan Qiang, deputy editor-in-chief of NetEase Inc, a Chinese Internet portal.

According to a report on China's soccer development, which was issued in November by Netease, Guangzhou R&F invested more than 5 million yuan ($800,200) and its city rival Guangzhou Evergrande invested more than 8 million yuan in youth soccer in 2014.

"Increased investment from developers will help boost development of both the property and soccer industries," said Yan.

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