Chinese Fund Complete Investment in Lyon

By iSportconnect | February 28, 2017

IDG Capital Partners have completed a deal to acquire a 20% stake in French Ligue 1 club Olympique Lyonnais.

The deal had been held up due awaiting the second part of the payment, but the Chinese investment fund has now completed the necessary financial transfers.

IDG paid an initial €30m on December 23 and OL Groupe, the publically-traded holding company which controls Lyon, on Monday evening announced that it had received the balancing payment of €70m which concludes the deal on February 24.

Included under the agreement announced in August was a partnership to form a joint venture to raise Lyon’s profile in Asia. Lyon said the venture would seek to generate commercial partnerships and increased profile for the club in Asia, along with assisting in football development in the region.

Lyon finished up as runner-up to Paris Saint-Germain in Ligue 1 last season and currently sits fourth in the 2016-17 table following Sunday’s 5-0 win over Metz.

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