Asia's rich are funding European football teams in hunt for yield

Hong Kong

WEALTHY Asian investors unwilling to splurge on owning their own European soccer teams are showing their enthusiasm by helping to fund the sport.

Sales of football finance notes, backed by television rights of soccer clubs, doubled to US$11 million (S$15.8 million) last month from the amount issued in April, when they were opened to investors in the region, according to data from Swiss-Asia Holding. The Singapore-registered firm that operates the investment says total assets in the securities globally stand at US$40 million and will likely reach US$100 million in 2017, after a Champions League club agreed to assign some of its TV rights for the note last month.