Dr. Tony Xia.

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Re: Dr. Tony Xia.

Post by villabromsgrove on Thu May 19, 2016 5:04 pm

http://www.foxsports.com/soccer/story/new-aston-villa-owner-xia-jiantong-plans-to-revamp-side-051916?cmpid=feed:-sports-CQ-RSS-Feed

Big plans indeed!
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Re: Dr. Tony Xia.

Post by lukevilla on Fri May 20, 2016 12:47 pm

http://www.ft.com/cms/s/0/9969d8b0-1e63-11e6-b286-cddde55ca122.html#axzz49C8t48LA found this out today.

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Re: Dr. Tony Xia.

Post by GadgetMan on Fri May 20, 2016 12:58 pm

lukevilla wrote:http://www.ft.com/cms/s/0/9969d8b0-1e63-11e6-b286-cddde55ca122.html#axzz49C8t48LA  found this out today.

Luke any chance you could cut and paste the article? It's behind a paywall and my subscription to the Financial Times has expired Very Happy Cool Suspect
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Re: Dr. Tony Xia.

Post by lukevilla on Fri May 20, 2016 1:19 pm

GadgetMan wrote:
lukevilla wrote:http://www.ft.com/cms/s/0/9969d8b0-1e63-11e6-b286-cddde55ca122.html#axzz49C8t48LA  found this out today.

Luke any chance you could cut and paste the article? It's behind a paywall and my subscription to the Financial Times has expired Very Happy Cool Suspect

that link dosent seem to work for me but does if you type in bird's nest beijing recon into google and its the 1st one down from an hour ago. i would copy and paste the article but it says on there you cant copy and paste to websites.


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Re: Dr. Tony Xia.

Post by villabromsgrove on Fri May 20, 2016 1:32 pm

I must admit that in all the searching I've done (once I got over the Chinese use of RUI KANG for RECON) I've only found Jiantong Xia as chair of one company, Lotus Health Industrial Holdings Group. This is the only named group in his Bio, and it's spectacularly unsuccessful at the moment.

We need to see proof of his assets and cash flow soon, otherwise it could get worrying. RECON is a glamorous looking set up, but as the FT says it has never published any financial returns.

I hope the guy is being straight with us.
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Re: Dr. Tony Xia.

Post by Sandie on Fri May 20, 2016 2:14 pm

http://chinasportsinsider.com/2016/05/20/aston-villas-chinese-owner-saint-or-sinner/
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Re: Dr. Tony Xia.

Post by villabromsgrove on Fri May 20, 2016 2:30 pm

Hmmm!
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Re: Dr. Tony Xia.

Post by GadgetMan on Fri May 20, 2016 2:37 pm

I don't think WE need to see proof of his assets and cash flow, that really is none of our business, BUT I hope Hollis and Lerner, along with the Lawyers have seen all this and have documentation of all his businesses and details of the other 4 they are about to acquire. If they haven't then you have to assume the DD process on Villa's end was poor. It could all be easily sorted with a joint statement. Proof of funds would have been submitted and the Chinese Government would of had to give permission for funds to leave, so they have a vested interest in this too.

I think the vacuum of info that we in the Western world are used to via google etc is what's making people worry. I have to remain logical and think would Hollis and a top law firm just believe someone? probably not. So I'm hoping it's a miscommunication that will be cleared up, but cleared up it must. The fit and proper test will also need this information (businesses owned etc too)

Bottom line it's a journo ringing a company and speaking to a random person, let's wait and see before we all panic.
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Re: Dr. Tony Xia.

Post by GadgetMan on Fri May 20, 2016 2:39 pm

Ps it's running across two threads now so I'll post the FT article here too, but maybe best to keep to this thread or the takeover one or it will just get confusing.

The Chinese business group which has agreed to buy Aston Villa football club admitted on Friday that it controlled only one listed company, not the five previously claimed in a press release.

The admission raises questions about the due diligence on Tony Xia, the businessman behind the deal. He is chairman of the Recon Group, a Beijing and Hangzhou based private holding company which controls 75 per cent of Lotus Health Group, a large producer of the food additive MSG.

On the website of the Aston Villa football club, a biography of Mr Xia — posted on May 18 when the sale was announced — reads: “Recon Group is a privately owned holding company that owns the controlling interest in five publicly listed companies on the Hong Kong and Chinese stock exchanges.”

The Recon Group website appears to show the group has several listed subsidiaries, however stock exchange filings show that Recon Group only has a significant stake in Lotus Health.

A Hangzhou-based spokesman for Recon reached by telephone on Friday, who identified himself only as Mr Jin, admitted the company “currently only has controlling share in Lotus Health”.

Meanwhile, he said: “The acquisition deals for the remaining four companies are still being finalised and should come out soon.” He declined to name the companies.

The Recon Group said the mistaken information contained in the press release had been the result of a “miscommunication” with Aston Villa, and they would ask the football club to change the wording of the statement.

The information raises questions not just about the truthfulness of the claims surrounding Mr Xia’s business dealings, but about the financial health of Mr Xia’s business group, which agreed this week to pay an undisclosed sum for Villa.

Last month, Lotus — Recon’s only verifiable asset — announced it had made a net loss in 2015 of Rmb508.5m ($77.6m) on revenues of Rmb1.7bn, compared with a net profit of Rmb23.9m the previous year.

Lotus produces 150,000 tonnes of MSG, exporting to more than 70 countries every year, according to Shanghai stock exchange filings, as well as other food additives.

Recon Group’s other revenues were unclear as the group does not appear to have ever published an audited financial statement.

In addition Mr Jin denied an assertion by Steve Hollis, Villa’s Chairman, who was quoted on Thursday saying that Mr Xia had helped to build the Bird’s Nest Olympic stadium in Beijing.

“Again, you need to ask him but he is responsible for the Bird’s Nest in Beijing and some of the other major iconic developments in China” Mr Hollis was quoted in an article in the Birmingham Mail.

“Xia was never involved in the planning or designing of the Bird’s Nest stadium. Xia’s expertise is in urban design” said Mr Jin.

A spokesman for Aston Villa confirmed that Mr Hollis was accurately quoted, but said he was not sure what information Mr Hollis was citing.
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Re: Dr. Tony Xia.

Post by lukevilla on Fri May 20, 2016 2:43 pm

GadgetMan wrote:I don't think WE need to see proof of his assets and cash flow, that really is none of our business, BUT I hope Hollis and Lerner, along with the Lawyers have seen all this and have documentation of all his businesses and details of the other 4 they are about to acquire. If they haven't then you have to assume the DD process on Villa's end was poor. It could all be easily sorted with a joint statement. Proof of funds would have been submitted and the Chinese Government would of had to give permission for funds to leave, so they have a vested interest in this too.

I think the vacuum of info that we in the Western world are used to via google etc is what's making people worry. I have to remain logical and think would Hollis and a top law firm just believe someone? probably not. So I'm hoping it's a miscommunication that will be cleared up, but cleared up it must. The fit and proper test will also need this information (businesses owned etc too)

Bottom line it's a journo ringing a company and speaking to a random person, let's wait and see before we all panic.


yesterday we was the next man city and today the next birmingham! my guess is that it will be somewhere in the middle.

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Re: Dr. Tony Xia.

Post by GadgetMan on Fri May 20, 2016 3:05 pm

lukevilla wrote:
GadgetMan wrote:I don't think WE need to see proof of his assets and cash flow, that really is none of our business, BUT I hope Hollis and Lerner, along with the Lawyers have seen all this and have documentation of all his businesses and details of the other 4 they are about to acquire. If they haven't then you have to assume the DD process on Villa's end was poor. It could all be easily sorted with a joint statement. Proof of funds would have been submitted and the Chinese Government would of had to give permission for funds to leave, so they have a vested interest in this too.

I think the vacuum of info that we in the Western world are used to via google etc is what's making people worry. I have to remain logical and think would Hollis and a top law firm just believe someone? probably not. So I'm hoping it's a miscommunication that will be cleared up, but cleared up it must. The fit and proper test will also need this information (businesses owned etc too)

Bottom line it's a journo ringing a company and speaking to a random person, let's wait and see before we all panic.


yesterday we was the next man city and today the next birmingham! my guess is that it will be somewhere in the middle.

Was words Luke. Let's not panic yet. This is the UK press digging for info (which is good) from a nation notoriously secretive. IF and it's a very cautious IF he has lied or overhyped his worth etc, it will be found out and the deal won't happen. I trust the lawyers and Hollis more than I do one journo and random employee at RECON.....at this stage. The press need to ask some questions of our CURRENT chairman and let him clear it up from our end.
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Re: Dr. Tony Xia.

Post by Sandie on Fri May 20, 2016 3:12 pm

GadgetMan wrote:I don't think WE need to see proof of his assets and cash flow, that really is none of our business, BUT I hope Hollis and Lerner, along with the Lawyers have seen all this and have documentation of all his businesses and details of the other 4 they are about to acquire. If they haven't then you have to assume the DD process on Villa's end was poor. It could all be easily sorted with a joint statement. Proof of funds would have been submitted and the Chinese Government would of had to give permission for funds to leave, so they have a vested interest in this too.

The proof of funds is actually part of the Fit and Proper Persons test. They have to provide that to be allowed to buy the club. If that wasn't in place this deal won't have got this far. Though I am wondering why Steve Hollis and the club's press release have repeated some claims that don't stack up.

FWIW, I agree with Luke. The truth lies somewhere in between. I think we all knew we weren't really going to be lucky enough to get a Man City style owner.
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Re: Dr. Tony Xia.

Post by GadgetMan on Fri May 20, 2016 3:20 pm

In an age where FIFA and UEFA have been under investigation, I think the Football League will be very careful (contrary to people saying it's a worthless process) add to this China's position in trying to gain a significant foothold into the English football market, they too will not want any negativity as part of this deal, so will be asking their own questions too, as it could be a hugely embarrassing and damaging affair if it was proven there had been lies.

Let's remember it's one press report and not been mentioned elsewhere. The lawyers would have and still will be all over this and the deal will have many clauses. I'm sure Dr Xia and Hollis are in contact and if they're sensible they will speak up. I'm cautiously optimistic that this is a storm in a teacup. The supposed employee at RECON did say 4 other businesses were being acquired, which could explain the confusion and put to rest any further alarm bells ringing of lack of funds and credibility etc!

Hopefully it's a speed bump on route to a great new beginning and not a roadblock. I fully expect this to either be cleared up or the deal could be in doubt (or should be)

Time to be patient and see what comes out I think.
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Re: Dr. Tony Xia.

Post by Sandie on Fri May 20, 2016 3:39 pm

GadgetMan wrote:In an age where FIFA and UEFA have been under investigation, I think the Football League will be very careful (contrary to people saying it's a worthless process) add to this China's position in trying to gain a significant foothold into the English football market, they too will not want any negativity as part of this deal, so will be asking their own questions too, as it could be a hugely embarrassing and damaging affair if it was proven there had been lies.

I think that's very true. The Fit and Proper Person's test has been all but discredited due to events at other clubs so the football authorities will now be even more careful. If the people overseeing this deal have done their jobs then it should be a mere formality.
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Re: Dr. Tony Xia.

Post by GadgetMan on Fri May 20, 2016 3:53 pm

Due to the largely unknown nature of Dr Xia and his business interests, it's plausible not all is as it seems (from the FT article and the other posted here) equally it could be that the RECON group is merely a vehicle in which the government can own a English team and Dr Xia (knowing the president it would seem) as the likeable face behind the investment, but the money coming from elsewhere and the RECON group having big rewards forthcoming too. Both speculative and both different ends of the spectrum in terms of negative and positive, but just as everything is unknown to us (giving opportunity to speculate) it doesn't mean that it all isn't perfectly crystal clear to those that matter at this point.

If it's not, why not? and what happens next?....All questions that either need answering or unequivocally being cleared up with much more transparency. I'm hoping (that's all we can do at the moment) that the powers that be who have put the deal together, accepted the deal (in the case of Lerner, Hollis and Lawyers) after through research know all the info is good and 100% genuine and will mean the deal goes through and is a success. Any doubts at this stage, need to be examined fully and I don't mean our doubts as we know very very little. I mean if Hollis now has any doubts then it needs to be looked at with urgency and worst case questioning the validity of the deal.
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