Chinese influence in European football appears set to increase with the owner of Czech football team Slavia Prague – China Energy Company (CEFC) – set to purchase a controlling share in its stadium.
CEFC is to acquire 70 per cent of the Eden Arena for a reported €31.1m (£24.8m, US$35.5m), and will subsequently spend €49.6m (£39.6m, US$56.6m) on redeveloping the 21,000-capacity ground over the next five years.
According to reports in the Czech Republic, the stadium’s capacity is due to increase to 30,000 and will become the official stadium of the national team.
The ground – which only opened in 2008 – occasionally stages national team games, and hosted the 2013 UEFA Super Cup match between Chelsea and Bayern Munich. It is also the home of Bohemians 1905 between 2010-2016 and hosted UEFA Champions League matches for FC Viktoria Plzen during 2011/12.
CEFC purchased a 60 per cent majority share in the football club in September 2015.
Last December, Chinese forms CMC and Citic Capital acquired a 13 per cent stake in Manchester City parent company City Football Group. In Spain, Rastar Group took 56 per cent equity in Espanyol, while giant conglomerate Dalian Wanda Group bought 20 per cent of Atletico Madrid. In addition, lighting manufacturer Ledus acquired 100 per cent of French Ligue 2 club Sochaux.
