Inter Milan's Fredy Guarin (R) shoots and scores during the Italian Serie A soccer match against Inter Milan at the San Siro stadium in Milan, Italy, September 13, 2015. REUTERS/Giorgio Perottino China’s Orient Hontai has agreed to buy a majority stake in Spanish sports rights group Imagina for $1 billion, the latest deal from deep-pocketed Chinese investors to transform the Asian country into a global soccer powerhouse.
Chinese firm Orient Hontai is set to purchase a majority stake in Spain's sports rights group Inter Milan - also known as Mediapro - for $1bn. Inter Milan owns the distribution rights to the La Liga soccer championship. The move follows a pattern of investors from China buying up sports and entertainment assets abroad. However, the deal has yet to be authorised by the Beijing government, which has recently been cracking down on foreign soccer investments.