A group of Chinese investors have agreed to buy a 70% stake in Sport Uniao Sintrense, a Portuguese club located in the town of Sintra, in the Lisbon district.

The investment group is led by Zhan Liang, President of the Portugal-based company Iberia Universal Lda. The other investor is Cheng Jun, founder of Shanghai-based investment company Realway Capital.

One month ago, Shanghai Entrepreneur Association promised an investment of around 10 billion euros in Portugal, including the field of sports.

The acquisition aims to “diversify the businesses of Iberia and expand into the sports market, which is something we have not done before." says an Iberia official statement.

The new owners of the club hope to build a competitive team, "with the goal of dignifying the Sintrense image and tell the story of a 105-year-old club."

The club, founded in 1911, is currently playing in the Portuguese National Championship Senior Football League, the third-tier football league in the country.

Source: sol.sapo.pt

Proofread by Sean O Diobhilin