Everton sign deal with Chinese bank
British football club Everton have entered into a pioneering arrangement with a Chinese bank.
The Premier League Club have signed a three year deal with Commercial Bank of China Limited in a deal worth £60 million.
British football club Everton have signed a three year deal with Commercial Bank of China Limited in a deal worth £60 million.[Photo: IC]
It will enable Everton to have significantly improved financial flexibility, and to borrow money at attractive rates of interest.
In broader terms, it could allow the club enhanced funds to buy new players and refinance existing debt commitments.
Everton have enjoyed a remarkably long time in the top tier of English football, and have been consistently placed in the upper third of the league.
Nevertheless, the last time they won in the upper division was the season of 1986-87 - so fans will probably welcome the investment!
Interestingly, the club is also keen to build relationships and fan support in China.
In March, when we reported on the most popular European football teams in China, Everton were not on the list.
The 'Red Card 2016' is a recognised annual survey of football clubs' digital success in China.
It takes into account a wide variety of metrics, including the number of followers that each club has on WeChat and Weibo, video engagements, mentions and likes.
Top of the league for 2016 was... Bayern Munich.
The rest of the top ten was as follows:
2) Manchester United
4) Real Madrid
7) AC Milan
8) Tottenham Hotspur
9) Manchester City
10) Paris Saint-Germain