Chinese ownership era to end for Slavia Prague

First League football club Slavia Prague will return to Czech ownership after investor, entrepreneur, and lifelong fan, Pavel Tykač, agreed to acquire the team, and its Fortuna Arena home, from the European arm of Chinese investment group CITIC.

CITIC Europe Holdings has been the majority shareholder of the club for over five years, taking control from CEFC China Energy, which had agreed an initial takeover deal in September 2015. During CITIC’s tenure, Slavia has won three league titles and the Czech Cup on three occasions.

The 59-year-old Tykač is the billionaire owner of the Sev.en Energy Group that has been expanding in recent years. The takeover deal is worth around CZK2bn (£70.6m/€81.4m/$89.6m), according to Czech media reports.

Jaroslav Tvrdík, chairman of the board of Slavia Prague, said: “We have undoubtedly experienced the most successful period in modern Slavia history. We became the leader of positive change in Czech football, and thanks to our activities, we have a strong presence throughout Europe.

“Additionally, today we are a profitable club at the peak of both sporting and financial performance. Pavel Tykač is an experienced Czech entrepreneur, investor, and lifelong Slavia fan with a significant family tradition in the red and white jersey.

“We all believe that his entry into the club will be a great contribution to Slavia’s further development.”

Tykač added: “I am among the loyal Slavia fans, just as my father and grandfather were. Being able to contribute to furthering Slavia’s development is a great honour for me. I hope that one day, my children will continue my work.

“Slavia symbolises courage, diligence, and perseverance for me, qualities I value. That’s why it’s more of a commitment than an investment. I also thank the seller, who managed to elevate the club to the top Czech and European level again. However, when the opportunity arose to join Slavia, I didn’t hesitate.”

Fortuna Arena has been Slavia’s home since the stadium opened in May 2008. The completion of the takeover is subject to approval from regulatory authorities in the Czech Republic and China, and is expected to be finalised at the end of February.