Chinese club topples Real Madrid as world’s most valuable

Thursday, March 10, 2016 7:19 am

Guangzhou Evergrande players: Now world’s most valuable club

Move over Real Madrid. China’s Guangzhou Evergrande are now the most valuable football club in the world,

After being listed on China’s National Equities Exchange and Quotations (NEEQ) last November, the first transaction of shares was completed on Tuesday with Guangzhou Evergrande subsequently being valued at $3.35 billion, China’s official press agency Xinhua said.

In 2015, Forbes named Real Madrid as the world’s most valuable sports team at $3.26bn, while Barcelona were in fourth at $3.16bn, and Manchester United in fifth at $3.1bn.

Xinhua claimed: “The Evergrande’s transaction per share values at 55 yuan (8.5 dollars), selling 36,000 shares for 1.98 million yuan (300,000 dollars) in the club’s first trade after being listed on November, 2015 in China’s NEEQ.

“In this price, Evergrande’s market value amounts to 21.8 billion yuan (3.35 billion dollars) in a total of 396.73 million shares.”

At the start of February, Guangzhou Evergrande, who won the Chinese Super League and the AFC Champions League in 2015, signed Jackson Martinez from Atletico Madrid in a €42m deal.

*Originally reported by www.goal.com