It might be too early to call it "normal," but since Chinese investors went after the NBA Cleveland Cavaliers basketball squad in 2009, the latest news that a Chinese investment group is now looking to purchase Liverpool F.C. doesn't seem all that surprising. Except for the little issue over the fact that it is the China Investment Corporation, a state-owned company established in 2007 under the Ministry of Finance using 1.55 trillion RMB. The corporation is charged with managing part of the country's foreign reserves, and is one of the world's largest sovereign wealth funds.
Posts tagged ‘Premier League’
An op-ed on how despite the rise in sporting venues throughout China, the country's sports stadiums remain empty once the lights fade and the games conclude.
There is no question that large, global sporting events can help change the image of a city. Governments use the spectacles as a means to redevelop or invest further in a city’s infrastructure. South Africa proposed a nine billion rand — or about 1.7 billion USD — budget on city infrastructure projects for next year’s World Cup. According to the Beijing Organizing Committee, the 2008 Olympic Games saw about 60 billion USD invested in city-wide infrastructure projects, which included new stadium venues for the sporting events.
“Steve” Yue Wang’s eyes light up when you talk football. He doesn’t have any favorite players or memorable moments, either from watching or playing. He can’t rattle off any statistics. He’s never really played the game. These are all things the average American has done if they’re into football.
But Wang isn’t American. He just knows he enjoys football.
“I know the game of soccer, but it isn’t worth it anymore,” says Wang. “I am tired of playing [soccer]. Football is so new, and it is just different.”