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Yutang Weekly (2016.1.18-1.24)

By Yutang Sports 24 Jan 2016

Guangzhou Evergrande raises US$132mn from investors

China's Guangzhou Evergrande Taobao FC announced last Thursday that the club has recently raised 869.36 million yuan (132 million U.S. dollars) by issuing 21.734 million shares on the National Equities Exchange and Quotations (NEEQ).

CBA to set up management company

An agreement has been reached to set up a management company for The Chinese Basketball Association (CBA), the men's professional basketball league in China. At a meeting held in Dongguan, Guangdong last Saturday, the investors of 18 CBA clubs signed registration documents for the creation of CBA Beijing Company Ltd. 

CFA to launch league management council

Last week the Chinese Football Association (CFA), the governing body of football in China, held a conference to discuss the setting up of a football league management council. This follows the separation of the CFA from the general sports governing body last August, which meant the football association would henceforth have “absolute control” over its internal business.

Chinese conglomerate links with Jorge Mendes

Chinese soccer aficionados will have more opportunities to see world-famous soccer players in the near future as Foyo Culture and Entertainment Co Ltd-a subsidiary of investment conglomerate Fosun International Ltd-has joined hands with Gestifute, the Portuguese football agency founded by Jorge Mendes.

Chen to complete Espanyol takeover

Chen Yansheng, the mastermind behind Chinese manufacturing business, the Rastar Group, will officially become the biggest shareholder of debt-laden La Liga side Espanyol during the week.

LeEco to sponsor Beijing Guoan

Chinese internet company LeEco (formerly known as LeTV), which operates the Le Sports service, and Chinese Super League (CSL) side Beijing Guoan FC held a joint press conference this afternoon to announce their strategic co-operation.

Sina Sports links with Australian Open

Sina Sports announced yesterday (January 19) that it has entered into an official strategic collaboration with Tennis Australia for the Australian Open, one of the Grand Slam tennis tournaments.

Wanda targeting five acquisitions in 2016

Dalian Wanda Group, the Chinese property-to-entertainment conglomerate masterminded by Asia’s richest man Wang Jianlin, has said it is planning five “substantial” acquisitions in the sports and entertainment sectors this year.

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