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Premier League: Chinese businessman Gao Jisheng buys Southampton stake

Chinese businessman Gao Jisheng has entered into a partnership with English Premier League Club Southampton. Although the financial terms of the partnership have not been disclosed, reports suggest that Jisheng has paid £200 million for 80 percent stake.

football Updated: Aug 14, 2017 21:59 IST
AFP
AFP
London
Southampton F.C.,Saints FC,English Premier League
Southampton have been an ever present in the Premier League since their return in 2012.(Getty Images)

Southampton have entered into a partnership with Chinese businessman Gao Jisheng, the Premier League club’s owner Katharina Liebherr announced on Monday.

“I am pleased to confirm that talks to bring in a new partner to our club have been concluded,” said Liebherr in an open letter to supporters on the club website.

“Following extensive and fruitful work, we are entering into a partnership with the Gao family and I am excited about what we will achieve together.”

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Southampton did not divulge the terms of the partnership, but British press reports said Gao had paid £200 million ($259.5 million, 220.3 million euros) to acquire an 80 percent stake in the club.

Liebherr inherited Southampton from her late father, Markus, in 2010.

Gao’s company, Landers Sports Development, said it had agreed a deal to buy into Southampton in January, but the new partnership is a personal investment.

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“I am honoured and humbled to become a partner of Southampton Football Club alongside Katharina Liebherr, who, together with her father, has been such a great steward of the club, its growth and success,” said Gao.

“Together, we have the passion and motivation to build on Southampton’s excellent progress in recent years as we look forward to an exciting next chapter for the club.”

First Published: Aug 14, 2017 21:58 IST