By Alec Hogg
Last night brought evidence of spreading Chinese influence when a Hong Kong-based company bought historic French football club Sochaux. A snip at R93m, the electrical components company Tech Pro followed Chinese billionaire Wang Jianlin who last month bought 20% of Spanish Champions Atletico Madrid for R530m.
South African entrepreneurs have also been attracted to the sport. Highest profile is Brian Joffe’s Bidvest, shirt sponsor of UK premier league team Sunderland, a R25m a year investment. On the ownership side, low profile Capetonian Brian Katzen is a director and at 20%, the second biggest shareholder in Swansea City, while MicroMEGA executive chairman Dave King, with 15%, is the biggest shareholder in Scottish superclub Rangers FC.
There are many better investments, but few can compete with the ultimate trophy asset’s combination of passion and ego.
Yesterday’s top stories:
Science says Tim Noakes is right on cholesterol – and lots more!
PM Cameron wants 30 hours community service from young British dole drawers
Andrew Canter unpacks the future of banking in SA and how it will affect you
Anchor Capital: Essential market review, 16 February
Retirement Annuities 101: Active VS Passive (Part 2/4)
