Four hundred million in three years! The Premier League dream of the Zhejiang businessman is over

 Four hundred million in three years! The Premier League dream of the Zhejiang businessman is over

Spurs beat Aston Villa 3-1 in a Premier League game in the early morning of August 11. It was the first Premier League game in three years after Aston Villas breakthrough in the top flight.

The new Premier League season for Aston Villa has just begun, but the new season for Zhejiang businessman Xia Jiantong has ended.

In the early morning of May 19, 2016, Aston Villa Football Club, which had just been demoted from the Premier League, announced that the former club chairman had agreed to transfer its 100% ownership of the club to United Ruikang Group for 76 million pounds. Xia Jiantuo, a Quzhou businessman from Zhejiang Province, became the new chairman of Villa. At that time, Xia Jiantong was in high spirits and wanted to lead Villa back to the heroic words of the Premier League.

But to his surprise, Xia Jiantong had to leave his team only three years later.

Or lose tens of millions of pounds

Established in 1874, Aston Villa is one of the oldest clubs in England. It was a strong team in the top league of England. It won the FA Cup seven times and the top league championship seven times. But since the 11/12 season, with the deterioration of the financial situation, Villa has been fighting for relegation; three years ago, Villa was relegated. Just then, Xia Jiantong appeared.

In May 2016, Aston Villa, just demoted from the Premier League, announced that former club chairman Randy Lerner had agreed to transfer 100% of his club ownership to United Ruikang for 76 million. Unified Ruikang Group is actually controlled by Xia Jiantong, and Xia Jiantong has also become the new chairman of Aston Villa.

At that time, Xia Jiantong told the Daily Mail that if Aston Villa returned to the Premier League in three years, Randy Lerner would be compensated by 30 million, and if Aston Villa stayed in the Premier League for three years after upgrading, Randy Lerner would be able to do so. To 10 million pounds.

In the first season of relegation to the Champions League, Aston Villa was in the middle. In the second season, it ranked fourth in the Champions League and lost to Fulham in the final of the upgrade playoffs. Until May, Aston Villa returned to the Premier League after a 2-1 victory over Derbyshire in the final of the Championship Upgrading Supplementary.

Aston Villa badge (photo source: Aston Villa Club website)

According to the agreement, Xia Jiantong will pay an additional 30 million pounds, but he can not afford to pay the money.

Earlier, Aston Villa began to have financial problems because of two consecutive seasons of unsuccessful breakthroughs. And Xia Jiantong, who is in crisis, is unable to give more support to the club. In fact, in July last year, Nassef Sawiris and Wes Edens controlled companies used 30 million to buy a 55% stake in Aston Villa from Xia Jiantang.

According to the BBC statistics, Xia Jiantong spends a lot in Aston Villa, but the return is very low. Over the past few years, Xia Jianhua has lost 50 million pounds (about 400 million yuan).

According to the BBC, Xia Jiantong emptied his remaining Aston Villa shares after the teams new owner repaid the 30 million debt on his behalf. Xia Jiantong has only been staying at the English football club for more than three years, from the time he spent a lot of money getting in and out of the club.

Loss of A-share capital support

At the beginning of Aston Villa, Xia Jiantong was interviewed by the Daily Mail. Faced with the question of whether he was a billionaire, Xia responded that there might be more than that number.

Three years later, the rich man was stumped by 30 million. Daily Economic News (Nbdnews) reporters note that Xia Jiantongs decline is highly related to its A-share capital operation failure.

Once upon a time, Xia Jiantong, known as Harvard genius, was undoubtedly the pride of the capital market. Back in 2015, Xia Jiantong Holdings * ST Lotus, shares in Tianxia Wisdom, and won ST remote control in 2016. In one fell swoop into the three listed companies, what was the spirit of Xia Jiantong at that time.


Aston Villas Home Stadium - Villa Park Stadium

After Sofitel, Xia Jiantong focused on * ST Lotus and ST remote. Xia Jiantong first transferred 10.36% of the shares held by Tianan, the second largest shareholder of ST Lotus, at a low price of 374 million yuan. A month later, Xia Jiantong became a co-actor with Tianan, Xiangcheng and Haoxin, Shanghai, with a total share-holding ratio of 11.92%, and then took control of ST Lotus. Thereafter, Xia Jiantongs Ruikang Sports Company acquired 22.18% of ST Telecom by raising its brand and transferring its equity in the secondary market, and became the controlling shareholder of the company.

Xia Jiantuos financial pressure can be imagined when he invests in two listed companies in a short time. According to the disclosure of public information, the capital of Xia Jiandong is not only from the proceeds of asset sales, but also through a high proportion of pledged equity financing. Shortly after the transfer of the shares of listed companies, Xia Jiantong is about to pledge a large number of shares.

If the share price of listed companies stabilizes, the risk of Xia Jiantuo can be mitigated. However, due to the changes in the overall market of A shares and the capital operation of listed companies, the stock prices of individual shares also showed a downward trend, and the crisis of Xia Jiantuo also broke out.

Up to now, Xia Jiantong is still the actual controller of * ST lotus. However, according to * ST Lotus disclosure on July 11, because of the Hangzhou United Rural Commercial Bank v. Ruikang Investment Dispute, all shares of Ruikang Investment Holdings were frozen on a waiting basis. Prior to this, the companys shares held by Ruikang Investment have been frozen by four courts (waiting for freezing). At the same time, all the shares held by Ruikang are under pledge.

Source: Daily Economic News Author: Editor-in-Charge of Zeng Jian: Wang Xiaowu_NF