Chinese consortium speed up potential purchase of several football clubs
London, April 22 (IANS): A wealthy Chinese consortium is planning to complete a takeover of English football club Aston Villa immediately after the FA Cup final, according to media reports.
Tim Sherwood's side stunned Liverpool on Sunday to set up a showdown against Arsenal on May 30 in the FA Cup final. The group have also held talks with neighbouring West Brom as a backup plan as the move for Villa would depend on them avoiding relegation, reports Xinhua.
English newspaper Daily Mirror said the consortium already has representatives in England and are doing due diligence ahead of completing a Villa deal in early June. They have been at the training ground and toured the club as owner Randy Lerner is willing to sell the club for around 150 million pounds.
Four miles away, West Brom chairman Jeremy Peace has also put his club up for sale and the same Chinese group are interested in Albion as an alternative. Peace, who has shown the group around their stadium and facilities, is holding out for upwards of 100 million pounds.
The takeover for Villa is part of Chinese investors' purchase of sports industry worldwide.
A Chinese company has launched a crowdfunding initiative to raise at least one billion euros to buy Italian club AC Milan, according to Fu Yixiang, vice-president of the Italy-China Chamber of Commerce.
Fu said on April 8 that five companies have been linked to a possible takeover of the club. Four are based in China -- beverage maker Wahaha, real estate developer Wanda, telecommunications giants Huawei and e-commerce magnate Alibaba, and the other interested is a Thai company.
Chinese company is also in a deal to buy historic French club FC Sochaux which could be completed in May. Tech Pro Technology Development company, a Hong Kong-listed electrical components manufacturer, would pay seven million euros for the 87-year-old club. The deal could be finalised in May.
Earlier this month, Wanda Group became the official owner of 20 percent stake in La Liga champions Atletico Madrid. In February, Wanda acquired Swiss sports marketing company Infront Sports & Media in a deal valued at about 1.05 billion euros.
In January, China's United Vansen International Sports Corporation made it public that they had almost finished the purchase of Dutch club Alles Door Oefening Den Haag.