中国资本海外足坛并购的环境、风险与对策

Research on the Environment,Risks and Countermeasures of Chinese Capital’s Acquisition of Overseas Football

中国资本并购世界足坛环境因素主要包括新媒体兴起、知名足球俱乐部估值偏低、欧洲人传统的足球观念逐渐改变以及收购管制门槛较低等。中国资本并购海外俱乐部的内在动机主要是国内足坛结构性失衡与估值泡沫、海外俱乐部品牌效应以及青训与管理模式变化等。其风险主要在于:并购标的额大,增加并购主体经营风险;盈利、套现能力较弱;专业人才匮乏;预期行业容量小,产能过剩危险较大等。应对措施包括做好整体规划与风险控制、增加人才储备、拓展国内行业容量等。

The environmental factors of Chinese capital′s m&a in world football mainly include the rise of new media, the low valuation of famous football clubs, Europe′s changing traditional view of football, and the lower threshold for takeover control.The intrinsic motivation of Chinese capital to acquire overseas clubs mainly involves the structural imbalance and valuation bubble of domestic football, the brand effect of overseas clubs, the youth training and management mode, etc.The risk mainly lies in that the large amount of the subject of merger and acquisition increases the operational risk of the main body of merger and acquisition;Profitability, cash ability is weak;Lack of professional talents and expected industry capacity is small, overcapacity risk greater.The countermeasures include making overall planning and risk control, increasing the talent reserve, and expanding the capacity of domestic industries.