 |
The Premier League "has given clearance" for a £190M ($242M) takeover of Southampton by a Chinese company after months of investigations, according to Matt Hughes of the LONDON TIMES. Lander Sports Development CEO Gao Jisheng, "who has been accused of paying bribes to Chinese politicians," passed the EPL's owners and directors test and an announcement "is expected next week." Southampton and Lander have been informed that the proposed deal "is close to being given the go-ahead." Southampton Owner Katharina Liebherr "has been negotiating with Lander over a sale for almost 12 months," with the Chinese property development company offering £190M for 100% of the club's shares in March. The matter "was then passed to the Premier League, whose lawyers have investigated the sources and sufficiency of Lander's funding," the company's business plan and the structure of the deal as well as "subjecting all potential owners and directors to the fit and proper persons test." The Premier League is "satisfied that all aspects of Lander's bid" meet its requirements. Lander "is proposing a phased takeover of Southampton in which it would initially buy into the club before going on to take full control." In talks with the club, Lander "has pledged it will not sell any players this summer." Liebherr "intends to keep some of her Southampton shares in the short term" to provide continuity before "selling up completely" if Lander’s promises of additional investment materialize. Liebherr's willingness to sell "stems from her belief" that Southampton requires additional investment to "cement" its position as a top-10 Premier League club and a "desire to spread her assets across a wider portfolio" (
LONDON TIMES, 6/9).
