Fosun Case Study
2018 saw Wolves promoted from the English Football League (EFL) Championship to the English Premier League, where the club finished 7th in the 2018/19 season – its best placing for 40 years.
Headquartered in Shanghai, Fosun is listed on the Main Board of the Hong Kong Stock Exchange and has operations around the world. Its global investment portfolio spans the property, pharmaceuticals, healthcare, insurance, retail and entertainment sectors.
Why the West Midlands?
Wolves is one of England’s most historic football clubs. Founded in 1877, the club was one of the twelve founding members of the EFL – along with other West Midlands clubs Aston Villa and West Bromwich Albion – and has played at Wolverhampton’s infamous Molineux stadium since 1889.
Speaking about why Fosun decided to invest in the club, Jeff Shi, Executive Chairman of Wolverhampton Wanderers, said:
“Football is enjoying a huge growth in China and, of course, is England’s national sport. As part of our strategy, it makes perfect sense to buy a great Football Club.”
Recognising the club’s significance for the city, Fosun is extending its investment by supporting the redevelopment of Molineux stadium, in partnership with Wolverhampton City Council and the University of Wolverhampton. Currently in discussion, plans could see venue capacity increase to nearly 50,000 and a new hotel built close to the stadium to accommodate fans and visitors to the city.
Shi added:
“We understand the importance of the Club’s role within Wolverhampton and the surrounding communities and that is something we are determined to continue.”
An international success
As well as boosting the club’s domestic presence, Fosun has significantly grown Wolves’ popularity overseas. The company has increased the club’s fandom in its native market especially, by participating in the 2019 Premier League Asia Trophy and opening a brand new megastore close to its headquarters in Shanghai with unique fashion lines exclusively for Chinese supporters.
Shi said:
“This new megastore is a clear sign of our ambition to become a strong global brand, embracing our fans across the world, and becoming a key part of their everyday life.”
Wolves then managing director Laurie Dalrymple added:
“Our Chinese fanbase has been steadily growing thanks to the success of the last 24 months and we see this as an excellent way to meet the demands of our Chinese supporters, and to help make new ones. China is a key market for us, both in terms of fan acquisition and also developing the commercial aspirations of the club, and timing the store opening for when the first team and staff are in Shanghai was a natural fit.”
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