Wanda Group to invest 500 mln yuan to support Chinese football

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Real-estate company Wanda Group signed a cooperation contract with the Chinese Football Association Sunday to invest 500 million yuan to support Chinese football.

According to the contract, the investment will be mostly used on training young football talents. Currently, there are about 10-thousand registered youth football players in China. Wanda Group, based in the northern city of Dalian, was founded as a football club in 1994. The club once dominated the league, winning three successive league championships.

However Wang Jianlin, CEO of Wanda Football Club, decided to exit from the football world in 1998. His company then developed well in the real-estate industry. He said the investment was to support Chinese football and there wasn't any business interests involved.

Editor:Shi Jierui |Source: CNTV.CN


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