China's Lander Holdings Still Without Funds For £200M Takeover Of EPL Side Southampton

The Chinese company negotiating a £200M ($160M) stake in Premier League side Southampton is "still yet to have the funds" for its investment transferred out of China and risks "losing the chance" to buy a controlling stake in the club, according to Sam Wallace of the London TELEGRAPH. Lander Holdings has been unable to secure the release of funds from China and the club is "growing ever concerned" that the deal to buy an 80% controlling stake "cannot be left in limbo indefinitely." There are "no concerns about Lander's capacity to pay for the stake in the club" owned by Katharina Liebherr, who wants to push through with the sale. The "key obstacle" is Lander "obtaining permission from authorities in China to transfer the necessary funds overseas in order to make the purchase." The longer the wait, "the more the doubt grows that the deal is feasible," despite Lander CEO Gao Jisheng having been approved by Premier League due diligence procedures (TELEGRAPH, 7/30).