The Chinese privately-owned investor, CEFC China Energy Company, which owns the top Czech football club, Slavia Praha, will gain a 70% stake in the club’s stadium, Eden Arena, and reconstruct it, local media reported.
The Chinese company and the Eden Arena joint stock company signed a deal for the sale on Wednesday.
It is reported that CEFC China Energy Company will pay 31.1 million euros for the stake this year and plans to invest a further 49.6 million euros in the reconstruction of the stadium over the next five years to turn it into a national stadium.
The contract also mentions the Beijing Municipal & Bridge Corporation construction firm, which seems to be the company that will do the reconstruction work.
Czech Football Association head Miroslav Pelta recently said the Eden Arena might be turned into a national stadium capable of accommodating up to 30,000 spectators.
Proofread by John Devlin.