A Chinese consortium 'Intellectually Made in China' is in talks with the Spanish club Malaga for the purchase of 95 percent stake of the club in the league.
China 'Sports Weekly reported Friday that an anonymous consortium will take over Malaga by holding 95 percent of shares, leaving the remaining five percent smallholders including former Real Madrid defender Fernando Hierro reports Xinhua.
In the next three years a Chinese sports management company cooperate with a Spanish company best agent to boost the club to reach the Champions League caliber. The consortium plans to build a world-class sports complex with a base of youth training.
The foundation will provide training and practices of Chinese coaches. Then best Chinese players will be selected to join young and old club teams. Eventually, Malaga can help improve Chinese football in the training program and storage of talent.
The two sides are trying to keep the secret negotiations. Malaga manager Vicente Casado confirmed negotiation is underway and the takeover is likely to take place in early summer, according to reports.
Real Madrid striker Isco, who grew up in the training program for young people of Malaga, is pleased to hear the Malaga agreement.
"I never forget where I am. I sincerely hope that the transaction can make a success and I think the Chinese businessman is quite convenient to choose Malaga as a takeover target," Isco said Friday.
The highest paid player in Málaga only makes a million euros, but the team has a club to beat Barcelona at the Camp Nou this season and was ranked seventh in the league, six points behind sixth-placed Villarreal and step in European competition.
La Gazzetta dello Sport reported last week that the owner of the Italian club AC Milan, Silvio Berlusconi, is preparing to weigh two separate deals that could see a majority stake in the giants of Serie A are sold either to a Thai businessman or Hong Kong.
The Chinese consortium is favored in the treatment nailing his Thai rival.
Also last week, a daily English reported that a wealthy Chinese consortium plans to complete a takeover of Premier League club Aston Villa immediately after the final of the FA Cup scheduled for May 30.
A Chinese company is also a historic agreement to buy French club FC Sochaux, which could be completed in May. Tech Pro Technology Development, a listed Hong Kong manufacturer of electrical components, pay € 7,000,000 for the 87-year-old club. The deal could be finalized in May.
Earlier this month, Wanda Group became the official owner of 20 percent stake in the League champions Atletico Madrid. In February, Wanda acquired Swiss sports marketing company Infront Sports & Media in a deal valued at about 1.05 million operation.