Diamond League track and field series set to make China return
Meanwhile, English Premier League soccer team Wolverhampton Wanderers is seeking fresh investment as the debts of its Chinese owner continue to mount.
The Diamond League, an annual series of elite track and field competitions, has announced plans to return to China next summer.
The League, a series of invitational one-day athletics competitions held around the world, has announced both Shanghai and Shenzhen will return to its calendar after a two-year hiatus, tentatively scheduled for July 29 and August 3, respectively.
The move indicates it may be possible for China to host major international sporting events once again, amid a relaxation of its COVID-zero rules after protests against them in late November. COVID zero has seen many sporting events avoid the country: Only last week, Formula 1 announced the cancellation of the Shanghai Grand Prix.
China loosened quarantine policies for international arrivals on November 11, with the new rule requiring travelers to undergo five days of centralized quarantine and three more potential days at home. Meanwhile, centralized quarantine for positive domestic cases was abolished on December 7. Unconfirmed rumors are circulating on the details of further loosening early next year.
While it remains to be seen as to whether China will continue to open up if faced with a major exit wave of cases, the current trajectory suggests that for the first time in over three years, it is more likely than not that events will go ahead.
Fosun-owned Wolves seeks new investment
Premier League football club Wolverhampton Wanderers, commonly known as “the Wolves,” is seeking fresh investment as the debts of owner Fosun International continue to mount, reports The Times of London.
Chinese conglomerate Fosun is reportedly in the process of selling off more than $3 billion in assets, to pay off debts estimated by Moody’s at over 200 billion yuan ($28.7 billion), according to Nikkei Asia. Like many Chinese conglomerates, Fosun has been hit hard by the slowdown in the Chinese economy.
The Times reports that Fosun is unwilling to sell the soccer club in its entirety. Rather, the goal at this stage is to secure investment into Fosun Sports, the arm of Fosun that owns the Premier League team.
Fosun bought the Wolves for £45 million ($55.3 million) in 2016. Chinese companies, keen to acquire status symbols, boosted the nation’s influence in soccer during the 2010s, investing in some of the biggest European clubs, like AC Milan, Internazionale, Atletico Madrid, and Aston Villa.
Xí Jìnpíng 习近平 also fueled the boom, stating in 2015 his desire for Chinese teams to become “among the world’s best.”
Unlike other Chinese investments in European soccer, Fosun’s has so far been a fairly stable and successful ownership.
Other sports stories in the news:
Snooker body suspends six Chinese players as match-fixing investigation continues (ABC)
Hong Kong rejects apology over protest anthem incorrectly played at UAE powerlifting event (Inside the Games)
The teenagers revitalizing China’s sports prospects (Sixth Tone)
The China Sports Column runs every week.
