Chinese firm takes over Barcelona team for $72m

Chinese firm takes over Barcelona team for $72m

Tuesday, November 3, 2015 8:57 am

Espanyol team

Espanyol team

A Chinese Company, Rastar Group has bought Spanish BBVA Primera Liga club, Espanyol.

It was the fourth Spanish club with substantial Chinese interest.

Rayo Vallecano and Real Sociedad are both sponsored by the Chinese company Q-Bao and Wang Jianlin.

And the president of the Wanda Group owns 20 percent of 2014 league champions, Atletico Madrid.

News of Rastar group take over of Espanyol was given by the former president of the Barcelona based club, Dani Sanchez, who had along with Ramon Condal, been one of the club’s majority shareholders.

Sanchez confirmed in Spanish sports paper, Diario AS that the Rastar Group had spent 65 million euros (around 72 million U.S. dollars) to take control of the club and also to invest in sporting matters.

Rastar Group is a company dedicated to technology, which also manufactures toys and videogames and has a stock market value estimated at around 3 billion dollars.

The company will take over a club which is currently in the middle of the BBVA Primera Liga table with 13 points from 10 games.

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