A Taiwanese pop star is involved in plans to acquire a stake in China’s National Stadium in Beijing.
The Standard said Star Plus Legend (6683), founded by Taiwanese pop star Jay Chou’s mother, plans to acquire a 1.17 percent stake in the operator of the Bird’s Nest for 24.3 million yuan (HK$26.6 million).
Its wholly-owned subsidiary has entered into an equity acquisition agreement with Beijing Jinzhou Sunshine Consulting and Deloitte Touche Tohmatsu Certified Public Accountants Beijing Branch, according to a filing.
The target company is responsible for the construction and operation of the stadium, also known as the Bird’s Nest.
The National Stadium is located at Olympic Green in Chaoyang, Beijing, China. The National Stadium, covering an area of 204,000 square meters with an 80,000 person capacity (91,000 with temporary seating), broke ground in December 2003, officially started construction in March 2004, and was completed in June 2008.
The stadium was designed for the 2008 Summer Olympics and Paralympics. It was also used during the 2022 Winter Olympics and Paralympics.
Jay Chou Chieh-lun is a Taiwanese singer-songwriter, actor, director, and businessman. Widely regarded as one of the most influential figures in the Chinese-speaking world, he is referred to as the “King of Mandopop”.
Chou is one of the best-selling recording artists in Taiwanese history, having sold over 30 million albums worldwide.
Star Plus Legend said the acquisition of the “rare landmark asset” is in line with its strategic development direction.
The firm said it will be able to collaborate more extensively with the stadium operator in respect of the integration of large-scale cultural, sports, and entertainment events with IP resources, fully leveraging the strengths of both parties.
This will further enhance the group’s capabilities in IP value monetization and industry synergy, creating positive benefits for its long-term development, the company said.
Continue to follow Coliseum for latest updates on venues business news. Coliseum is dedicated towards building the best global community of sports and entertainment venue executives and professionals creating better and more profitable venues.
Become a member of the only Global Sports Venue Alliance and connect with stadiums, arenas and experts from around the world. Apply for membership at coliseum-online.com/alliance and make use of the 365Coliseum Business.