Arsenal and BYD investigate claims fraudster facilitated groundbreaking deal for Premier League side and Chinese car giant
Questions of legitimacy arise around the agreement for the Shenzhen-based company to become the Premier League club’s car and bus partner
Arsenal Football Club says it is investigating allegations that its groundbreaking partnership with BYD Auto was facilitated by an alleged con artist acting as an employee of the company and not the Chinese electric car giant.
The Warren Buffett-backed BYD is the world’s largest electric vehicle maker and employs more than 220,000 people across five continents, with Arsenal’s preseason tour to Shanghai and Beijing touted as the catalyst behind the move.
But BYD now claims the partnership, and other dealings, were the work of Li Juan, saying in a filing to the Hong Kong stock exchange on Monday that it did not authorise Li to conduct business or sign contracts on its behalf.
A statement published on BYD’s website last Thursday said Li and her associates had used the name Shanghai Yuhong Culture Communication to provide free advertising and promotional activities, with Li allegedly forging the company’s seal to enter into transactions that damaged its reputation.