The Chinese energy company CEFC China Energy Company Limited (CEFC), the new majority owner of the Czech top football division side Slavia Praha, has agreed a deal with the Football Association of the Czech Republic to become a partner of the national team.

The deal was signed by Miroslav Pelta, chairman of the Czech Football Association and CEFC President Chan Chauto. Prime Minister Bohuslav Sobotka also attended the signing ceremony.

Under the agreement, The Chinese partner will invest tens of millions of Czech koruna in Czech football annually. But no further details on the financial terms were revealed. 

“It is a very important moment because Czech football needs financial boosting. China is the future, it is an important signal for other firms, too,” Pelta said. “It is a partner who will invest dozens of millions of koruna in Czech football annually.

As part of the deal, the two sides will work together to improve coaching and playing standards in each country.

Chauto Chan said: “We believe in the potential for cooperation between Czech and Chinese football. We hope to help Czech coaches, players and clubs in establishing cooperation with the Chinese side and its development.

“There are a number of areas, including education or youth competitions, where the Czech Republic can be an excellent partner for Chinese football.”

Last month, CEFC acquired a 60 percent stake in Slavia. The firm also invests in other fields beside sport in the country. 

Source: Prague Post