Tycoon Gao completes Southampton takeover
Print Edition
Chinese businessman Jisheng Gao has completed a takeover of Southampton, club owner Katharina Liebherr said in a letter to fans yesterday.
“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,” Liebherr said. Although no details of the deal were released, local media reported that Gao had purchased an 80 per cent stake for around 120 million pounds (US$155.60 million). Liebherr said she had built up a close relationship with Gao’s daughter Nelly Gao, who local media said would join the board. The English Premier League approved the takeover by Gao’s company in June, and the deal takes to 28 the number of European clubs now under Chinese ownership. Seven of those are British: West Bromwich Albion, Birmingham City, Aston Villa, Wolves, Reading and Northampton are the others, with Manchester City also 13 per cent owned by Chinese.
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