HomeNewsBusinessFootballFrance

Nenking Group takes over Ligue 2 club Sochaux

Chinese conglomerate Nenking Group is now officially the owner of French Ligue 2 side FC Sochaux-Montbéliard.

Nenking takes over ownership of FC Sochaux-Montbéliard (FCSM) after a club general assembly meeting was called earlier this week. In recent months, FCSM was still the property of a member of the Hong Kong firm Tech Pro Technology.

Nenking’s purchase of the club last year was expected to be a formality, but the acquisition was delayed by the suspension and then delisting of Tech Pro Technology from the Hong Kong stock exchange.

The previous owner paid €7m ($7.6m) in 2015 to acquire FCSM from the then-vendor Automobiles Peugeot SA, according to a filing with the Hong Kong Stock exchange at that time.

Samuel Laurent, executive director general of FCSM, who was installed by Nenking in July 2019, said: “This is excellent news, and proves the tenacity of Mr Zhong Naixiong (president of Nenking), his attachment to the club and his desire to get it back to where it deserves to be, by taking it up to Ligue 1 in three or four years.”

Nenking is engaged in real estate development and management, financial services and pharmaceuticals. It also owns Chinese Basketball Association team the Guangzhou Loong Lions, and is the main sponsor of Hong Kong premier league team Eastern.