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Chinese investor completes purchase of Ligue 2 club Auxerre

Xinhua, October 14, 2016 Adjust font size:

AJ Auxerre has been officially changed hands as a Chinese investor came out as the new majority shareholder of the French Ligue 2 side on Thursday.

According to France Info, the French club's board of directors held a general assembly in Paris and officially recorded that the Chinese group ORG Packaging, specialized in food packaging, acquired 60 percent of the shares held previously by Limido family.

The board also extended the duty of club president Guy Cotret, who said the Chinese group had promised to invest an additional six million euros over the next three years while showing a clear ambition to revive the club.

Auxerre, now on the penultimate place in Ligue 2 with just one win in the 2016-2017 season, was the French champions in 1996 and the four-time French Cup winners in 1994, 1996, 2003 and 2005 before being relegated to Ligue 2 in 2012. Endit