How the new GC owner’s man stinks of football

Who Is Jenny Wang Jinyuan? Or better asked, who is your husband? After the Grasshopper Club Zurich sale, dubious deals may be the order of the day with record champions.

On Thursday, the Grasshopper Club Zurich announced the acquisition of the club by Chinese investors. Personally, he is the owner of Champion Union HK Holdings Limited, Jenny Wang Jinyuan. The Grasshopper Club writes that she is one of the most influential and significant figures in Asian business, art, and culture. But the art lover and former journalist doesn’t have much to do with soccer.

But the first look is misleading. Jenny Wang Jinyuan is also the wife of Chinese investor Guo Guangchang, whose company “Fosun International” has an impressive and diverse portfolio. And in addition to banks, hotel chains and pharmaceutical manufacturers, the English Premier League club Wolverhampton Wanderers also belongs to the conglomerate valued at more than $ 10 billion. As the emails from the “Matter Football Leaks” show, the men of “Fosun International” are particularly familiar with handling the regulations and looking for loopholes. One wonders where the good woman Wang will collect her advice in the future.

But everything in order. As “Reuters” reports in 2019, “Fosun International” first appeared in the European soccer business in the mid-decade. The company is looking for a new investment and realizes that buying and reselling soccer players can make a lot of money in no time. Internal emails describe the transfer business as “the most lucrative part of the soccer business.”

Mendes and Guangchang: the perfect match

The Portuguese player consultant Jorge Mendes recognized the same thing years before. Like a stockbroker, he begins advising not only players, but also acquiring shares in his transfer rights. Not only can this make incredibly good money, the shares also guaranteed Mendes a voice in future transfers.

A good example is the Portuguese international Diogo Jota. In 2014, the 17-year-old played for a relatively small Portuguese club called Pacos de Ferreira. Mendes acquires 40 percent of the attacker’s transfer rights and pays 35,000 euros for it. Two years later, the attacker switched to the Spanish first division club Atlético Madrid for 6.4 million euros. Mendes’ shares are suddenly worth 2.56 million euros. And because another consultant also owns another 20 percent of the transfer rights, only 40 percent of the proceeds from sales ultimately go to Pacos de Ferreira’s coffers. It is also doubtful that the club has too much voice in the decision to sell.

Enthusiastic about this business model, Guo Guangchang decided in 2015 to invest in Jorge Mendes with “Fosun International” and bought 15 percent of his company “Start SGPS” with a 37.5 percent outlook. As you can see from the sales contract, Mendes currently has transfer rights for 54 players across Europe. In addition to Jota, this also includes Ederson Moraes (later Manchester City) and Fabinho (later Liverpool). How widespread this method is cannot be said precisely because such purchases do not end in any public record.

Buying the Wolverhampton Wanderers

However, soon after, FIFA makes a mess. The practice is prohibited for fear that such third-party owners will lose a lot of money from the sport, and especially from smaller clubs. From now on, only football clubs can have player transfer rights. “Fosun International” is unimpressed by this and takes over the English second division team Wolverhampton Wanderers on the recommendation of Mendes’ nephew Luis Correia. Sky Sun will be hired as vice president.

The English association fears that the close connection between “Fosun International” and Jorge Mendes could lead to a distortion of competition. By law, player advisers in England cannot assume important roles for football clubs or direct their strategies.

After an investigation, the association concluded, despite strong criticism, that Mendes “has no role in the club.” In addition to the coach, Nuno Espirito Santo, at least six players are currently represented on the Mendes Wolves team. Diogo Jota is one of them.

The quest for “less regulation”

From other leaked emails, it appears that “Fosun International” and Mendes planned to take over the youth academies in 2016, so that they could retain the players even earlier. They also wanted to take over another smaller club. Portugal is the “perfect place” for this because there are “fewer regulations”. Specifically, Rio Ave was attacked, but the deal fell into the water for unknown reasons.

Four years later, Swiss record champion Grasshopper Club Zurich took over. Sky Sun is hired as President, since he was in Wolverhampton at the time, he takes an important role in the club. Are there also “fewer regulations” in this country?

But stop. That was not Guo Guangchang with “Fosun International”. That was just his wife, art lover, and one of the most influential and significant figures in Asia’s economy, art, and culture. We don’t want to paint the devil on the wall right away.