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SBD/August 3, 2012/Franchises
Chinese Investors Will Become The Second-Biggest Shareholder Of Inter Milan
Published August 3, 2012
ASIAN SWING: The WALL STREET JOURNAL’s Isabella Steger notes the “move is the latest by well-funded Asian investors into Europe's soccer leagues.” Hong Kong businessman Carson Yeung bought English soccer club Birmingham City in ‘09, while AirAsia CEO Tony Fernandes bought EPL club Queens Park Rangers last year. It also marks China's “latest step to win construction projects in the West, broadening from the country's sizable role in big-ticket projects in Africa and other parts of the developing world.” Inter Milan said that Huang “will be named to the club's board of directors effective in October.” Huang leads QSL Sports Ltd., an “investment firm based in Hong Kong.” QSL brokered a deal in ‘09 “for a group of Chinese investors to buy a 15% stake” in the Cavaliers and Quicken Loans Arena, but he said that he “didn't invest in the Cavaliers himself” (WALL STREET JOURNAL, 8/3).