Guangzhou Evergrande Football Club: How Rich
Boss Xu Jiayin, 6 Billion US Dollar super billionair. The number 5 richest Chinese in Mainland China.
On 28 February 2010, Evergrande Real Estate Group took over the club with a fee of ¥100 million. Xu Jiayin, chairman of Evergrande Real Estate Group, said that they would pump more funds into the transfer market. His first act was to sign in China national team striker Gao Lin from Shanghai Shenhua for a reported fee of ¥6 million, then he replaced the previously existing head coach Peng Weiguo with former Beijing Guoan coach Lee Jang-Soo with no indication. In the 2010 summer transfer window, the club signed Sun Xiang, the first Chinese footballer to play in the UEFA Champions League with PSV Eindhoven, and Zheng Zhi, former China national team captain on 28 June. More pleasant amazement came in two days later, on 30 June, Guangzhou confirmed that they had signed Muriqui on a four-year deal from Campeonato Brasileiro Série A side Atlético Mineiro with a domestic record fee of $3.5 million.
Evergrande Real Estate Group, previously Hengda Real Estate Group, is one of the ten largest real estate developers in Mainland China, and one of the five largest real estate developers in Guangdong Province (The other four are Country Garden, Guangzhou R&F Properties, Hopson Development, Agile Property).
Evergrande begun operations in Guangzhou in 1996. It currently owns 45.8 million sqm of development land and real estate projects in 22 cities (Guangzhou, Tianjin, Shenyang, Wuhan, Kunming, Chengdu, Chongqing, Nanjing, Zhengzhou, Luoyang, Changsha, Nanning, Xian, Taiyuan, Guiyang, etc) in Mainland China, which ranks second among the Mainland real estate developers, just after Country Garden.