Indeed and that’s why he had to resort to elaborate offshore and presumably expensive financing arrangements to fund the purchase of the club.
Even if the purchase is state-funded -no doubt of interest to PL authorities- and we accept Chadwick’s theory for the sponsorship deal, it doesn’t really lend support to those who believe its about getting a foothold in the infrastructure market (again no explanation why you need to buy a football club to do so - just ask Huawei). Rather Chadwick is speculating that something else is going on here, that sponsorship is ultimately about gaining control of PL and media distribution rights. Then again, Chadwick has taken the OS description of LD sports at face value and hasn’t interrogated the company’s absolute s**tshow of a backstory on its now defunct Chinese site.