Chinese Coach to buy La Hoya Lorca
As reported by China Daily, Xu Genbao will sign an Acquisition Agreement on November 13 in Lorca City, Spain, acquiring ownership of La Hoya Lorca CF.
According to the report, Xu had assigned all of his equities in the Shanghai East Asia Football Club to the Shanghai International Port Group (SIPG) Football Club earlier this year. It was reported that his efforts were to be fully focused on transforming the ‘Genbao Football Training Base” into China’s most successful football training centre.
Consequently, given its timing and large scale nature, the La Hoya Lorca CF acquisition has created confusion, where it appears to conflict with his objectives regarding the Football Training Base. Xu has explained that both investments were made for business purposes, and that he seeks to integrate Lorca’s youth football training base into his operation model.
It is rumoured that Xu sourced this investment opportunity through his contact network built whilst at Shanghai East Asia Football Club. The investment has been strongly endorsed by the Shanghai Municipality.
Xu Genbao is a well-known football coach in China, having established the Genbao Football Training Base in Chongming County in 2000. He is now General Counsel to the SIPG Football Club.
La Hoya Lorca are currently playing in the Segunda B group 4 and going well this season, with some good investment and leadership the club could make a push for Liga Adelante with some big clubs visiting Lorca.
We will keep you posted in for future announcements.