esports: Fosun (CHN) acquires Chinese team QGhappy and integrates it into Wolves Esports

Fosun International, a Chinese conglomerate and owner of Wolverhampton Wanderers FC (Premier League), has acquired the Chinese esports organisation QGhappy and integrated it, now under the name of Chongqing Wolves, into "Wolves Esports" the club's esports section, announced Wolverhampton Wanderers FC on 05/09/2021.

Wolves Esports is therefore continuing to increase its presence in the discipline after having created its first teams in 2018 (on FIFA and Rocket League) within the UK market. Since 2019, the esports organisation has been present in China, with teams on three games (FIFA Online 4, Call of Duty Mobile and Identity V). Fosun also entered the US market by acquiring Evil Geniuses, an esports organisation based in Seattle (Washington, USA) now part of Wolves Esports.

"The acquisition of QGhappy is an equivalent move (to the acquisition of Evil Gienuses) by Fosun to accelerate its deep development in the esports field," said Wolverhampton Wanderers FC, which has been owned by the Chinese conglomerate since 2016 (acquired for £45m/€53.9m on 21/07/2016).

"Fosun Sports will…