Chinese billionaires have "started invading" European football by "making purchasing deals with top clubs, looking to gain influence in the 'beautiful game' and help China raise its standard," according to XINHUA. Within one month before China's central reform group, captained by President Xi Jinping, approved a plan to revive the game on Friday, the Chinese had "sealed the deal with clubs in Spain, the Netherlands and France." In January, Dalian Wanda Group bought 20% of Atlético Madrid and United Vansen Int'l Sports Corp. "made it public" that it had "almost finished the purchase of Dutch club Alles Door Oefening Den Haag." D & F Capital Management Co. Chair Lu Hao said, "I believe those investments in sports industry and European soccer clubs are related to the deepening reform of soccer and sports in China. Cultural and sports industry is able to play a very important role in the economic transformation of China and the government has given various signals to encourage the development of sports industry since last year. I believe more Chinese companies will invest in soccer clubs and sports in China and abroad" (XINHUA, 3/1).
