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Hull City set to be bought by HK firm

Reuters , Wednesday 2 Nov 2016
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A Hong Kong-listed firm said on Wednesday that a deal for British soccer club Hull City was a "non-exclusive" agreement, suggesting there may be plenty of play left in a long-running takeover saga that has drawn in buyers from China and beyond.

GreaterChina Professional Services Ltd, an asset advisory and advertising services firm, said at a press conference in Hong Kong that it had a non-exclusive memorandum of understanding (MOU) with Premier League club Hull City.

The owners of the club in October declined to comment on the status of a £130 million takeover bid from the Hong Kong company, while a person with direct knowledge of the sale process said rival groups still had offers on the table.

The Hong Kong firm, listed on the city's Growth Enterprise Market, said last month it was leading a consortium to bid for Hull City as it aimed to expand and diversify its business and revenue stream.

Chinese investors have been spending heavily on European soccer clubs in recent months.

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