WILL the Reds go red? Everbright, a Chinese state-backed financial conglomerate, is reportedly keen to buy Liverpool Football Club, one of the sport’s most celebrated names. If it were to happen, it would be the biggest in a series of recent investments made by mainland firms in European football (see chart). Some think such moves will redraw the sporting map. Arsène Wenger, manager of Arsenal, a London club, has said that China has the financial wherewithal to “move a whole league of Europe to China”.
The tally of Chinese investment in foreign football clubs since January of last year now stands at $2 billion, according to Rhodium Group, a consulting firm. The sums keep growing. The biggest deal yet was the takeover of AC Milan for $820m by a mainland consortium, announced on July 5th. Chinese money has also cascaded towards individual footballers, who often join the…Continue reading