Phoenix Rising adds Chinese Billionaire Alex Zheng as part owner

[MadCardDisease]

http://www.phxrisingfc.com/news_article/show/885426?referrer_id=2717359

Game changing addition.

If the MLS wants to make sure new teams have the funds to back a new franchise then Phoenix Rising just checked that box!

 

[MadCardDisease]

https://www.si.com/soccer/2018/02/10/phoenix-mls-expansion-bid-ownership-group-alex-zheng

But two more bids will follow after that to take the league to 28 teams, and USL's Phoenix Rising isn't sitting quietly. One of the 12 original bids when the latest expansion process began a little more than a year ago, the club padded its bid by adding Chinese billionaire and hotel magnate Alex Zheng and his Advantage Sports Union company to its investor group on Saturday.

Zheng, who also is part of the ownership group for Ligue 1's OGC Nice, adds significant financial clout to Phoenix Rising's MLS profile–which has proven to be important in the selection process. With expansion fees rising to at least $150 million and operating costs piling on from there, financial largesse and stability are necessities for any successful bid

 

[Dback Jon]

This could be huge. And that area that they are targeting for the stadium is ripe for another hotel