How Chinese money chases European sports

England adventure

Recon Group's take-over of Aston Villa may not have received high-profile coverage as the two Milans did, but in retrospect it was the onset of Chinese investors' buying spree in England.

Aston Villa's Rudy Gestede (right) celebrates scoring his team's second goal against Liverpool in the Barclays Premier League. [Photo/VCG]

The group, headed by Tony Jiantong Xia, paid a reported 60 to 70 million pounds ($87 million to $102 million) for the Midlands club in May, when it was relegated from the top-flight Premier League after a dismal season.

Midlands obsession

Chinese investors seemed to have developed a penchant for England's Midlands-based clubs. Wolverhampton Wanderers became the next target after Aston Villa.

Wolverhampton Wanderers fans celebrate at the final whistle during a Barclays Premier League match at Ewood Park, Blackburn. [Photo/Provided to China Daily]

Fosun International, known for its head, billionaire investor Guo Guangchang, got on board with the game, paying 45 million pounds ($59.7 million) for 100 percent ownership of Wolves in a deal announced in July.

Wolves play in the Championship, the second-tier league.