Dalian Wanda to invest millions in Chinese football
17 Jun 2011
Dalian Wanda, a leading commercial property company in China, is to provide “considerable financial support” to the Chinese Super League after linking up with the country’s football body.
According to the state-owned China Daily newspaper, Dalian Wanda will play a significant role in the management of the League as well as providing investment of up to US$500 million over the next decade. The country’s leading football competition will carry the name of the company as the “Dalian Wanda Plaza CSL” from the start of next season.
An official contract is expected to be signed in Beijing on Saturday, and although Chinese Football Association (CFA) deputy chief Lin Xiaohua refused to confirm the deal, he said he would welcome commercial investment into a sport that has endured numerous struggles in the country.
“All companies and entrepreneurs are welcome to work with the CFA in boosting the development of soccer in China,” Lin said. “Chinese soccer is at an all-time low and the CFA is in great need of support from various sectors. We appreciate any investment in Chinese soccer, no matter how much it is.”