Seznam Zprávy: Billionaire Tykač new owner of Slavia Prague

Billionaire Pavel Tykač has become the new owner of Slavia Prague. According to the news website Seznam Zprávy, he signed a deal on Thursday with the Chinese CITIC Group, which owned the club for five years. Before that, the club was owned by another Chinese company, CEFC.

The price for the sale of Slavia is unknown, but it is estimated at about CZK two billion. The transaction also includes the Fortuna Arena in Eden. The 21-time league champion will continue to be led by Jaroslav Tvrdík, while Tykač will head the supervisory board.

Mr. Tykač, who is 59, is the fourth richest Czech with a fortune of CZK 183.3 billion, according to the October issue of Forbes magazine.