Italy: Chinese investment fund buys 3^rd division club AC Pavia

The Chinese investment fund Pingy Shanghai Investment bought AC Pavia, a professional club in Lega Pro (Italian third division), on 03/07/2014. The Zanchi family, the club's majority shareholder since July 2011, sold all of its shares (90.5%) to Xiandog Zhu (China), the president of Pingy Shanghai Investment, who became president of the club.

This is the first Italian club to have a Chinese owner. The amount of the purchase was not disclosed.

"The Chinese market has enormous potential. I hope that they bring happiness to Pavia; they are serious investors," said Alessandro Zanchi, ex-general director of AC Pavia, on 06/07/2014.

AC Pavia finished 16^th and last of group A of Lega Pro in 2013-14. The club, however, was saved from relegation thanks to a change in format for the third division; the league will have three groups of 20 teams in 2014-15.

• In Serie A, two teams are owned by foreign investors:
  • Inter Milan, owned by Erick Thohir (IND) with 70% of shares since October 2013.
  • AS Roma, 78% owned by Thomas Di Benedetto (US) and Jamaes Pallotta (US) since July 2011.