Chinese Evergrande group eying expansion into England and the USA
England and the USA attractive investment options for ambitious Evergrande group looking to build global sports portfolioEngland vs Spain
The owners of Chinese giants and Asian Champions League champions Guangzhou Evergrande are the latest conglomerate evaluating the opportunity of building a global sports portfolio. Speculations about the acquiring group also include Evergrande's partner Jack Ma, the owner of the world's largest online retailer Alibaba.
The group is rumoured to be looking into a club in English football to benefit from the increasing TV rights fees and global audiences generated by the Premier League.
In an attempt to replicate the City Football Group model, owners of Man City and New York FC in the United Stated, in which Chinese fund CMC recently invested $400 million to acquire a 13% interest, Evergrande is also rumored to be evaluating an MLS franchise. The North American league has continued to raise in value in recent years and is expanding at a rapid pace. It is not clear whether Evergrande would possibly be considering an investment in the new Miami franchise where football legend David Beckham will be a majority owner, or in another existing or new team in the league.
The US sports market, the largest in the world, is considered a strategic objective for Chinese leading conglomerates which have acquired flagship assets in the sports and entertainment industry in recent months and are ambitious about the Chinese government plans to become a major force in world football.
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