A Chinese construction investment company has offered to buy Liverpool FC for £700m ($1bn) as part of an ambitious plan to build sports stadiums in the UK and China.
The company, SinoFortone, specialises in large-scale infrastructure projects around the world, and has invested more than $7.3bn in schemes in the UK over the past 12 months.
The Shankly gates at Liverpool’s Anfield ground (Wikimedia Commons)
According to reports in The Independent newspaper, the offer for Liverpool is linked to a plan to build a stadium in the dockland area of Liverpool, redevelop the club’s training ground at Melwood and install a series of football academies across China.
Liverpool FC is owned by an American investment company called the Fenway Sports Group, and any deal would be conditional on its willingness to sell.
The plan fits with the Chinese government’s plan to develop the country’s football infrastructure with a view to establishing the national side as a contender for the World Cup.
It is also part of the growing involvement of Chinese capital in UK construction projects. SinoFortone has already invested £2bn in developing a combined biowaste power station that will use waste heat to farm prawns in Holyhead and Port Talbot in Wales.
The company also said it would invest in developing an amusement park in Ebbsfleet, Kent, and is investing in London’s $46bn Crossrail 2 project.
In March SinoFortone and China Railway Group agreed to invest up to $10bn in green energy and affordable housing scheme in Scotland.