Asian gambling group mulls acquisition of UK football club

The Asia-facing online and land gambling group K8 could be the latest foreign owner of an English football club if a GBP 15 million negotiation to buy Wigan Athletic is successful.

UK media reports reveal that K8, which is active in China, the Philippines and Vietnam, already has sponsorship deals with Manchester City, West Brom and Cardiff City, but has ambitions to own a football club and take it into the English Premier League.

K8 chief executive Vincent Huang has reportedly been in Wigan recently to finalise the agreement, and due diligence has been carried out.

Any acquisition deal will have to achieve the approval of the Football League, but K8 has already proved its financial resources and probity, and this should not be a problem, according to press reports.

“Buying Wigan gives K8 more exposure, with the possibility of shirt sponsorship and renaming the ground as they rise back up the league ladder, but it poses questions regarding the futures of chairman David Sharpe and boss Paul Cook,” the reports note.

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