China’s Lander Sports Development has agreed to buy a stake in Southampton, the English Premier League team, in what could become one of the highest-profile Chinese acquisitions in English soccer.
The Chinese company signed an agreement with the club’s owner, Katharina Liebherr, according to a statement to the Shenzhen stock exchange on Thursday, the day after Southampton beat Liverpool to claim a place in the English Football League EFL Cup at Wembley. Financial terms were not disclosed but people familiar with the matter said late last year that Lander Sports may buy control for as much as £200 million (Dh929.2m).
According to Transfermarkt, Southampton has a total market value of £169.1m.
For Lander Sports, investing in the Premier League would give it a seat in the richest and most-watched football league on the planet. Should the deal be completed, Southampton would join West Bromwich Albion, Aston Villa and Birmingham City among English teams sold to Chinese investors.
China Media Capital in December 2015 invested US$400m to acquire a minority stake in the Abu Dhabi-owned EPL heavyweight Manchester City. That followed a visit to the club by te Chinese president Xi Jinping.
Lander Sports, based in eastern China’s Zhejiang province, builds stadiums across China, and has the rights to host the International Basketball Federation’s Stankovic Continental Cup, according to the company’s website.
Lander Sports shares have been suspended from trading since October.
* Bloomberg
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VEZEETA PROFILE
Date started: 2012
Founder: Amir Barsoum
Based: Dubai, UAE
Sector: HealthTech / MedTech
Size: 300 employees
Funding: $22.6 million (as of September 2018)
Investors: Technology Development Fund, Silicon Badia, Beco Capital, Vostok New Ventures, Endeavour Catalyst, Crescent Enterprises’ CE-Ventures, Saudi Technology Ventures and IFC
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