Home / World / Europe

Chinese businessman buys big chunk of EPL club

By Conal Urquhart in London | | Updated: 2017-08-15 00:48

A Chinese businessman has bought a major stake in Southampton Football Club.

Gao Jisheng and his family are understood to have bought around 80 percent of the club from its Swiss owner, Katharina Liebherr.

In a statement, Gao said: “I am honored and humbled to become a partner of Southampton FC, alongside Katharina Liebherr, who, together with her father, has been such a great steward of the club, its growth and success. Together, we have the passion and motivation to build on Southampton’s excellent progress in recent years and we look forward to an exciting next chapter for the club.”

Gao first expressed an interest in the club earlier this year. It seemed at the time as if a company he was believed to have been involved with, Lander Sports Development, would be the buyer of the club, but the investment looks to have since transformed into more of a personal one.

Liebherr inherited the club from her father, Markus, in 2010.

Southampton will become the seventh English club to be owned, or partly owned, by Chinese national. The other clubs are Reading, West Bromwich Albion, Aston Villa, Birmingham City, Wolverhampton Wanderers, and Manchester City.

Chinese interest in buying foreign football clubs rose after President Xi Jinping’s commitment to develop the Chinese league and the Chinese national football team.

Liebherr confirmed that Gao had become her partner at Southampton.

“Following extensive and fruitful work, we are entering into a partnership with the Gao family and I am excited about what we will achieve together,” she said. “Today is the start of a new and exciting chapter for our club. Mr Jisheng Gao and his daughter, Mrs Nelly Gao, with whom I have built a close relationship, share our values and ambitions. As a team, we will strive to build upon the strong foundation that is in place toward sustainable long-term success.”

She said the partners continued to have faith in Ralph Krueger, the club’s chairman, and his team.

Southampton has played one game this season, drawing with Swansea at home. Last season, Southampton finished in eighth place in the English Premier League.

Gao Jisheng founded Lander Holdings Group Ltd in 1995 and switched the company’s focus from property to sports investment. According to Forbes magazine the value of Lander Holdings is estimated at $1.4 billion.

Most Viewed in 24 Hours
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349