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10 years of FIFAs I'm sure everyone knows, QSL Sports Limited has recently acquired a 15% stake in Inter, which valued us at $500 million. This means that Moratti (or perhaps Pellegrini) recieved $75 million for his sale.
Whether this money goes into the club or back to the shareholder, is not yet known.
However.. This isn't the immediate obvious saviour that everyone expects it to be.
A few things concern me:
1 - We do not know what the finance arrangement for the stadium is.
There is no official announcement on the CRCC website about any deal, which they would be under legal obligation to report if it involved some serious cash flow. Most likely, they are just the construction contractors. Any notion that they are paying for our stadium is ludicrous - the company made about $500 million USD profit last financial year, and the specific subsidiary who is carrying out the construction made something like 130 million euros from what I could find. The subsidiary is a smaller company by market cap than Saras - CRCC is only about 8x bigger than Saras overall.
It is also ABSOLUTELY NOT the investment arm of the Chinese government. CIC is. This is a strict construction company. Nothing else.
2 - The involvement of Kenny Huang
Kenny Huang's company, QSL Sports Limited, was previously backed by some substantial wealth from co-owner billionaire Adrian Cheng. This is no longer the case. They parted ways years ago. Kenny Huang himself is a nobody - he has no political influence in Hong Kong or China. He's not worked at a Hong Kong based company in at least the last 20 years (see: http://webb-site.com/ ). Let's get this clear right now - this man is nothing but a wheeler dealer. He tried to do the same thing at Liverpool - where he lied about his wealth, refused to sign standard confidentiality agreements, and lied under oath in court.
The man is bad news. He has no real financial assets, and it looks like what has occurred here is that he has arranged an investment group - using the China Rail name but not necessarily linked - to invest in Inter. He is a Delboy wheeler dealer. He is NOT a saviour.
3 - The lack of announcements on HKEX
As stated, if there were some big deals moving in, CRCC is a publicly listed company in Hong Kong, it would have to be announced. This QSL Sports Limited company is basically a BS thing. The only hits you'll find on Google for it are Kenny Huang's wikipedia page & liverpool fans talking about it. I cant even find an official website. If you try to connect to qsl.cn it just times out (for me, at least).
This is their former International Operations Manager (apparently)
http://hk.linkedin.com/pub/wendy-yim/4a/760/35
Now a student, lol
Honestly? Right now? I think we've been scammed. I think someone on the board (not sure who yet, if the shares come from Moratti or someone else) has been scammed or is cashing out. We'll have to see what the finance arrangement is for the stadium, but lets be clear now, it is NOT a free stadium. Our new owners might be the ones investing into it, but CRCC are NOT building it for free.
Kenny Huang is nothing but trouble, has a TERRIBLE track record (Having tried numerous times to take over other sports clubs and being turned away most times as he didn't have the funds/etc), and he talks a lot of bullshit.
This seemed like good news last night. Now I'm quite worried. Remember Birmingham City? That was a similar thing. New Chinese owners promising lots of money. Look what happened there. The emphasis in Chinese politics is investment into CHINESE football. Look at, for example, Anelka, Drogba, etc. The political favour that comes with such a thing is far more important than any reputation boost by owning a foreign club.
This is a worrying deal for us.
At the end of the day..
This man has tried to buy stakes in clubs before. Cleveland Cavaliers, Liverpool, amongst them. He's been rejected by these clubs every time.
The only deals, as far as I can see, he's successfully pulled off, are introducing clubs to new sponsors as a middleman. And even then that was only like 3 times in the last decade.
Whether this money goes into the club or back to the shareholder, is not yet known.
However.. This isn't the immediate obvious saviour that everyone expects it to be.
A few things concern me:
1 - We do not know what the finance arrangement for the stadium is.
There is no official announcement on the CRCC website about any deal, which they would be under legal obligation to report if it involved some serious cash flow. Most likely, they are just the construction contractors. Any notion that they are paying for our stadium is ludicrous - the company made about $500 million USD profit last financial year, and the specific subsidiary who is carrying out the construction made something like 130 million euros from what I could find. The subsidiary is a smaller company by market cap than Saras - CRCC is only about 8x bigger than Saras overall.
It is also ABSOLUTELY NOT the investment arm of the Chinese government. CIC is. This is a strict construction company. Nothing else.
2 - The involvement of Kenny Huang
Kenny Huang's company, QSL Sports Limited, was previously backed by some substantial wealth from co-owner billionaire Adrian Cheng. This is no longer the case. They parted ways years ago. Kenny Huang himself is a nobody - he has no political influence in Hong Kong or China. He's not worked at a Hong Kong based company in at least the last 20 years (see: http://webb-site.com/ ). Let's get this clear right now - this man is nothing but a wheeler dealer. He tried to do the same thing at Liverpool - where he lied about his wealth, refused to sign standard confidentiality agreements, and lied under oath in court.
The man is bad news. He has no real financial assets, and it looks like what has occurred here is that he has arranged an investment group - using the China Rail name but not necessarily linked - to invest in Inter. He is a Delboy wheeler dealer. He is NOT a saviour.
3 - The lack of announcements on HKEX
As stated, if there were some big deals moving in, CRCC is a publicly listed company in Hong Kong, it would have to be announced. This QSL Sports Limited company is basically a BS thing. The only hits you'll find on Google for it are Kenny Huang's wikipedia page & liverpool fans talking about it. I cant even find an official website. If you try to connect to qsl.cn it just times out (for me, at least).
This is their former International Operations Manager (apparently)
http://hk.linkedin.com/pub/wendy-yim/4a/760/35
Now a student, lol
Honestly? Right now? I think we've been scammed. I think someone on the board (not sure who yet, if the shares come from Moratti or someone else) has been scammed or is cashing out. We'll have to see what the finance arrangement is for the stadium, but lets be clear now, it is NOT a free stadium. Our new owners might be the ones investing into it, but CRCC are NOT building it for free.
Kenny Huang is nothing but trouble, has a TERRIBLE track record (Having tried numerous times to take over other sports clubs and being turned away most times as he didn't have the funds/etc), and he talks a lot of bullshit.
This seemed like good news last night. Now I'm quite worried. Remember Birmingham City? That was a similar thing. New Chinese owners promising lots of money. Look what happened there. The emphasis in Chinese politics is investment into CHINESE football. Look at, for example, Anelka, Drogba, etc. The political favour that comes with such a thing is far more important than any reputation boost by owning a foreign club.
This is a worrying deal for us.
At the end of the day..
This man has tried to buy stakes in clubs before. Cleveland Cavaliers, Liverpool, amongst them. He's been rejected by these clubs every time.
The only deals, as far as I can see, he's successfully pulled off, are introducing clubs to new sponsors as a middleman. And even then that was only like 3 times in the last decade.
Last edited:
okerface:
