China’s national news agency Xinhua has made the outlandish claim that Guangzhou Evergrande is the world’s most valuable club ahead of the likes of Real Madrid and Barcelona.
Forbes ranked Real Madrid ($3.26 bn), Barcelona ($3.16 bn), Manchester United ($3.1 bn), Bayern Munich ($2.35 bn) and Manchester City ($1.38 bn) as the world’s five most valuable clubs in 2015.
However, since the club was listed on China’s National Equities Exchange and Quotations, with its initial transactions being conducted on Tuesday, Xinhua has now claimed that Guangzhou Evergrande is worth an astounding $3.35bn.
Xinhua reported: “The Evergrande’s transaction per share values at 55 yuan (8.5 dollars), selling 36,000 shares for 1.98 million yuan (300,000 dollars) in the club’s first trade after being listed on November, 2015 in China’s NEEQ.
“In this price, Evergrande’s market value amounts to 21.8 billion yuan (3.35 billion dollars) in a total of 396.73 million shares.”
The Chinese Super League has witnessed incredible growth over the last year with a number of clubs investing huge amounts of money in high profile European stars, including Guangzhou Evergrande.
The current Super League and AFC Champions League winners signed Jackson Martinez from Atletico Madrid in a record breaking €42m move just over a month ago.