Southampton FC sells 80% stake

Chinese businessman Jisheng Gao and his family have completed a deal to become the majority owner of Premier League side, Southampton.

Current owner Katharina Liebherr, who inherited the club from her late father in 2010 when the club was in League One, will retain a 20% stake in the club.

Reports suggest that Gao bought the stake for £200m, ending 12 months of talks between the Gao family and the club. The investment is being made personally by Gao and his daughter as opposed to being sanctioned through Lander Sports, as originally proposed.

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