June 9, 2017 / 4:35 PM / 5 months ago

Lander owner cleared for Southampton takeover

LONDON (Reuters) - The Premier League has given Lander Sports owner Gao Jisheng clearance to take over Southampton’s holding company, the Chinese stadium builder said on Friday.

Football Soccer - Southampton v Crystal Palace - FA Cup Third Round - St Mary's Stadium - 9/1/16 General view of a Southampton flag Mandatory Credit: Action Images / Tony O'Brien Livepic/files

“The company’s owner Mr Gao Jisheng has confirmed that he has obtained a verbal approval from the English Premier League to acquire an 80 percent stake in St Mary’s Football Group Ltd,” Lander said in a statement to the Shenzhen stock exchange.

It added that Gao had yet to receive approval documents.

British media reports have indicated the takeover would cost 190 million pounds ($241.95 million).

Lander announced in April it was terminating plans to buy a stake in Southampton after earlier striking a deal with Saints’ owner Katharina Liebherr. It said on Friday that it was not directly involved in the takeover.

Southampton ended last season eighth overall.

($1 = 0.7853 pounds)

Reporting by Alan Baldwin, editing by Pritha Sarkar

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