May 20, 2016 08:46 PM

China Scores with Aston Villa Soccer Deal

(Beijing) – A Beijing-based conglomerate has offered to pay 75 million pounds in cash for an English soccer club that recently lost its Premier League status, the company's chairman told Caixin.

Aston Villa, a club knocked from the Premier League to the lower rung Football League due to the team's poor performance, said in a statement on its website that China's Recon Group offered to acquire 100 percent of the club on May 19.

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