Spain's RCD Espanyol names Rastar Group CEO next president

Rastar Group CEO Chen Yansheng is to become the next president of Spain's football club RCD Espanyol, according to a decision taken on Thursday by the new board of directors, RDC Espanyol said in an official statement.

"Chen Yansheng will be the next president of the club, a charge that should be properly ratified by the following general meeting of shareholders," the RCD Espanyol said in a statement.

In a press conference held afterwards, Chen told reporters that one of his priorities was the financial stability of the club. "The first step we will take is a financial restructuring," he said, "with our support, Espanyol will never sell a player for financial needs."

"I believe a city like Barcelona can have two powerful teams," he said, "we want to make Espanyol a bigger club," he stated.

He explained as a president of Espanyol and Rastar Group CEO he would have to live between China and Barcelona and said the club "will be under control from China thanks to a group that will work here and another one there."

He said they would keep the club's culture and tradition as "changes will focus on technical and management improvements."

"We asked the fans to continue giving their support to the football club," he said, saying he was a football fan.

On Wednesday, the board of directors said they "provided the transfer of powers to the new capital majority at top executive level in the club" after Rasta Group became the main shareholder of Espanyol when buying a 54-percent stake in the football team. Endit