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China’s CITIC sells Slavia Prague to Czech tycoon

Chinese state-run investment group CITIC has sold Czech top-flight club Slavia Prague to local energy and mining tycoon Pavel Tykac, Slavia said on Thursday.

Tykac, 59, who is the fourth wealthiest Czech with assets worth $8.2 billion, is “an experienced Czech entrepreneur, investor and a lifetime Slavia fan”, the club’s board chairman Jaroslav Tvrdik said on the Slavia website.

“Slavia family, we are entering a new era,” he added on X, formerly Twitter.

The price of the deal has not been disclosed.

Under CITIC, which bought up Slavia in November 2015, the club have won the Czech league four times, including three successive titles in 2019-2021.

This season, the team has clinched a spot in the Europa League last 16 after winning Group G ahead of Roma.

They reached the Europa League quarter-finals in 2019 and 2021.

In the Czech league, Slavia currently sit second behind arch-rivals Sparta Prague owned by another local tycoon, the second wealthiest Czech Daniel Kretinsky.

Slavia said the sale, which is subject to approval by Czech and Chinese authorities, should be finalised at the end of February 2024.

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