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SBD Global/July 19, 2013/Franchises

Real Estate Company Greenland Group Confirms Interest In CSL Club Purchase

Real estate company Greenland Group has confirmed it is interested in buying Chinese Super League club Shanghai Shenhua but said that "it is waiting to see how the general situation develops," according to Cameron Wilson of WILD EAST FOOTBALL. Greenland Group Chair Zhang Yuliang, responding to a journalist's question on buying Shenhua, said, "There were some media stories suggesting Greenland should come out and take over a team, and this is something I also considered. I've been asked about it before and my answer was just one word -- 'possibly.'" It would appear that Greenland Group does have intentions to buy Shenhua, "but the takeover process may be long and drawn out, indeed this statement may be the first move in their negotiation strategy." For his part, current owner Zhu Jun spoke a week ago of "waiting for other teams to decline" so Shenhua could become a leading team again, and that he would re-invest money in the club if his business took an upturn (WILD EAST FOOTBALL, 7/17).
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