China International Trust & Investment Corporation Group (CITIC) has reportedly agreed to sell up to half of its shares in Chinese Super League side Beijing Guoan FC, according to various Chinese media reports.
Sina Sports reported that, based on a reliable source, at least three enterprises have made contact with Beijing Guoan FC. The CSL club has never before experienced equity transfer during its 23 years in the Chinese top tier soccer league.
CITIC’s conditions for sale are that, whoever is the ultimate buyer, the club’s name, kit colour and logo will remain unchanged.
The three companies, which reportedly include City Football Group, a video company and an e-commerce platform from China, are in substantial talks with CITIC.
CITIC Capital, a subsidiary of CITIC Group, was part of the Chinese consortium that acquired a stake in City Football Group for US$400m last month.
Beijing Guoan FC, established in 1992, is a professional soccer club based in the Chinese capital, Beijing. The club finished 4th in the CSL last season.
Source: Sina Sports
Proofread by John Devlin.