Chinese in £225m bid for Saints

£225million takeover bid

ACHINESE bank are ready to make a £225million offer for Southampton after a proposed takeover from a rival Far East firm collapsed.

Sportsmail can reveal that CITIC Securities — China’s largest investment bank — have drafted the terms of a takeover bid and are set to make a formal approach once the club’s period of exclusivity with Lander Sports Development expires at the end of this month.

Lander disclosed to the Shenzhen stock exchange on January 26 that they had agreed a deal in principle to purchase a stake in the Saints, and Swiss owner Katharina Liebherr (below) subsequently reassured fans that any agreement would be ‘in the best interests of the club’.

However, Sportsmail understands the Lander deal has hit a major snag regarding stockexchange listing rules, which do not count player trading potential in the overall value of a club. As a result, Southampton may not be seen as a profitable business venture in the eyes of the stock exchange, precluding listed companies from investing.

This has alerted several groups looking for a way into the Premier League, and there is a queue of investors bidding to open talks with Liebherr, including three Chinese firms and one American.

And state - owned CITIC Securities are hoping to jump to the front of that queue by presenting the term sheet of their £225m offer. We understand that British- based mergers and acquisitions advisory firm Blackbridge Cross Borders are acting as an intermediary and talks have already taken place in the City of London, with Swiss financial services company UBS acting for the Liebherrs. Southampton — who face Manchester United in the final of the EFL Cup at Wembley on Sunday — are seen as one of the most attractive takeover propositions in England. The club has been a model of success since being rescued by the Liebherr family in 2009 and within three years they had climbed from League One to the Premier League. Liebherr, who inherited the club from her late father Markus in 2010, confirmed last month that she was open to a ‘potential partnership’. However, CITIC Securities are looking to gain full control. They are part of the group which also includes CITIC Capital who, along with China Media Capital, acquired a 13 per cent stake in Manchester City at a cost of £265m in December 2015. There was no comment given by Southampton last night.