Shanghai entrepreneurs interested in professional football in Portugal

12 May 2016

Chinese businessmen who are members of the Shanghai New Entrepreneurs Association may invest in Portugal, particularly in professional football, the chairman of the ShanShan group, Zheng Yonggang, said in Lisbon.

The businessman, cited by the Portuguese press, mentioned the possibility of investments of up to 10 billion euros in various sectors of activity, including professional football and the real estate, antiques, tourism, high technology and finance sectors.

Saying he had been in contact with the president and the chief executive of Benfica football club, Luís Filipe Vieira and Rui Costa, respectively, Guo said he met Monday in Madrid with Luís Figo, former Portuguese football player and with the president real Madrid, Florentino Pérez.

Zheng led an association of Chinese entrepreneurs including, among others, Guo Guangchang, Chairman of Fosun International, a group that took part in the first tender for sale of Portuguese bank Novo Banco that was brought to a halt by the Bank of Portugal in September 2015.

Quoted by Portuguese news agency Lusa, the president of the ShanShan Group gave assurances that members of the association would not compete with each other to buy Novo Banco and added “we may even join forces to buy the bank.”

The Shanshan Group controls several companies, namely producing apparel and parts for lithium ion batteries, as well as financial services and construction. (macauhub/CN/ PT)