As encouraging as it is to see Chinese companies dip their toes in international sporting waters puma creepers green australia , their global journey is always bound to have a few bumps in the road.
In June last year, little-known United Vansen International Sports Company (UVS) took over struggling Dutch club ADO Den Haag, promising to invest millions of euros to safeguard its future.
But a little over a year later, UVS has reportedly defaulted on two key payments totaling close to 2 million euros ($2.2 million), while the club's owner Wang Hui has vanished without a trace puma creepers purple australia , according to Dutch broadcaster Nos.
The situation has turned so sour that Dick Advocaat, a former coach of the Dutch national team who began his playing career with Den Haag, has called for the club to be returned to Dutch ownership.
This should not be interpreted as a slight against Chinese money - Advocaat is an open-minded man, who has played and coached on four continents - but headlines of this sort require -potential business partners to think twice before rushing into new deals.
This year alone, China Media Capital took a 13 percent stake in Manchester City's parent company City Football Group puma creepers grey australia , Dalian Wanda Group boss Wang Jianlin bought a 20 percent slice of Spanish club Atletico Madrid, while Chinese firms now have controlling shares in Spain's Espanyol and Slavia Prague in the Czech Republic.
Though Chinese buyers often have the upper hand in negotiations, -especially when dealing with a -European club in financial difficulty, it is naive to see the Chinese party as a knight in -shining armor, ready to dole out money like a philanthropist providing for the needy.
The sports industry currently accounts for 0.7 percent of China's GDP puma creepers brown australia , but Beijing is looking for that to rapidly increase in size over the next decade, providing obvious reasons why companies want to invest in the sector.
But for every Wanda, whose long track record across multiple industries is impressive, there are many more like UVS, whose limited experience bringing European teams to China for preseason games is not nearly so inspiring.
These pretenders are tarnishing legitimate Chinese firms puma creepers red australia , if only due to their geographical proximity.
However, if this means that both parties in future deals will now do just a little bit more due diligence instead of jumping into bed with each other at the first sign of flirtation, then fewer marriages will end in tears, as the UVS-Den Haag union appears to have done.
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