Nissan Mulls Sale of Yokohama F. Marinos Soccer Club

Tokyo, Sept. 29 (Jiji Press)–Nissan Motor Co. is considering selling the Yokohama F. Marinos professional soccer club in the J1 top division of the Japan Professional Football League, or J.League, it was learned Monday. Nissan has approached multiple companies with offers to sell its 75 pct stake in the operator of the club. It aims to narrow down possible buyers by the end of the year for an early sale, informed sources said, adding that possible buyers include a major technology company. The move is part of the struggling automaker’s restructuring efforts. A Nissan spokesperson declined to comment, saying that the company has not announced such a move. The Yokohama F. Marinos originated from Nissan’s corporate soccer club, established in 1972. In 1992, a year before the launch of J.League, the team was renamed the Nissan FC Yokohama Marinos. The club adopted its current name following a merger with the Yokohama Flugels. The club has led Japanese soccer since before J.League’s inception. It has won the J1 division five times and the Emperor’s Cup annual tournament seven times. Many of its players have played in European leagues and for the Japanese national team, including Shunsuke Nakamura. Meanwhile, Nissan suffered a net loss of more than 670 billion yen in the year that ended in March, due to sluggish global sales. It has announced plans to cut 20,000 jobs and close seven plants worldwide. The company has also asked the city of Yokohama, south of Tokyo, to significantly reduce the naming rights fee for Nissan Stadium, home to the Yokohama F. Marinos, to 50 million yen a year. END [Copyright The Jiji Press, Ltd.]