27 January 2017

Little club - big investment

Little known football club from Chinese Super league has new owner from today. Developing, investing and managing company Sinobo Group Ltd., exactly its subsidiary Sinobo Land bought a 64% share in the premier league team Beijing Guoan by paying of 3.56 billion yuan (481 million euros). Remaining 36% was kept from CITIC (domestic financial services giant).
The real estate company has made this club to be valuated at 5.5 billion yuan (754 million euros), according to the statement from the Hong Kong stock exchange. This deal surpasses recent Chinese take over for AC Milan, who is worth 740 million euros (including 220 million debt) and Atletico Madrid whose value is estimated from 565 to 618 million euros.
From now on the team will be formally known as Beijing Sinobo Guoan.


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