2016, the year China bought West Midlands football | OneFootball

The summer of 2016 turned the West Midlands into the centre of China’s brief football push, as Villa, Wolves and Albion were taken over inside three months and Blues’ sale followed by year’s end.

According to ExpressAndStar.com, Chinese investors, encouraged by President Xi Jinping’s sporting drive, met Midlands owners ready to exit and clubs ripe for capital.

Blues needed a buyer after shareholder Carson Yeung was jailed for six years in 2014 for money laundering. Villa owner Randy Lerner had sought a sale since 2014 but his £200m price deterred bidders. By May 2016, with relegation looming, he had to compromise.

Three days after the final match at Arsenal, Villa announced a proposed £76.2m buy-out by Beijing entrepreneur Tony Xia, head of Recon Group. After Premier League and EFL approval in June, he said the aim was to return to Europe within five years. Broker Chris Samuelson had also put Wolves and Albion to Xia.

Wolves had been for sale since September 2015 after owner Steve Morgan argued with fans at Preston following a 1-1 draw. Albion’s Jeremy Peace said in February 2015 he would not block a buyer. On 5 August 2016, 15 days after Fosun’s takeover of Wolves was announced, Peace agreed a £200m sale to Yunyi Guokai, led by Guochuan Lai, who said it would quickly raise interest in the club in China and should create attractive commercial opportunities.

Trillion Trophy Asia completed their Blues buy-out in October, sealing China’s takeover of West Midlands football.

Source: ExpressAndStar.com