HK firm says has signed non-exclusive MOU to buy Hull City

  • Football
  • Wednesday, 02 Nov 2016

David Yip, executive director of GreaterChina Professional Services Limited, speaks about the listed company's proposed acquisition of Premier League Hull City A.F.C. during a news conference in Hong Kong, China November 2, 2016. REUTERS/Bobby Yip

HONG KONG (Reuters) - A Hong Kong-listed firm said on Wednesday that a deal for British soccer club Hull City was a "non-exclusive" agreement, suggesting there may be plenty of play left in a long-running takeover saga that has drawn in buyers from China and beyond.

GreaterChina Professional Services Ltd, an asset advisory and advertising services firm, said at a press conference in Hong Kong that it had a non-exclusive memorandum of understanding (MOU) with Premier League club Hull City.

The owners of the club in October declined to comment on the status of a 130 million pound ($160 million) takeover bid from the Hong Kong company, while a person with direct knowledge of the sale process said rival groups still had offers on the table.

The Hong Kong firm, listed on the city's Growth Enterprise Market, said last month it was leading a consortium to bid for Hull City as it aimed to expand and diversify its business and revenue stream.

Chinese investors have been spending heavily on European football clubs in recent months.

(Reporting by Donny Kwok; Writing by Adam Jourdan; Editing by Sudipto Ganguly)

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