Lee is the founder, Chairman and CEO of NewCity Capital founded in February 2013, NewCity Capital is a private investment company that focuses on real estate, hospitality and sport Industry. He founded Lee Holdings Company Inc. a US-based investment company in August 1989 where he is the Chairman and focused on the acquisition of real estate assets, Later Lee actively invested in hospitality Industry and co-founded 7 Days inn one of the largest budget hotel chain in China in 2005, in 2014 Lee invested in The Grand Ho Tram Strip in Vietnam, one of the region's largest integrated resorts. in 2016 Lee foray into professional sports investment and acquired multiple European soccer clubs and building a football holdings in the European Leagues.
Sports/Soccer
Lee first foray into professional sports was in purchasing French top tier soccer team OGC Nice FC in June 2016, Subsequently, Lee has been trying to acquire more European soccer teams, In September 2016, Lee held advanced takeover talks with the Hull City FC owner Assem Allam, after formally ended his takeover bid for Hull City FC in November, Lee make an offer to buy Middlesbrough FC and was rejected by club owner Steve Gibson in January 2017, in April 2017, Lee was in talks with Brentford FC owner Matthew Benham over potential bid for the club, Lee was attracted by the Brentford FC’s location in London, close to Heathrow airport, and its stadium development plans. In December 2017, Lee acquired Barnsley FC from the Cryne family, in June 2019 Lee attempted to buy Partick Thistle FC, in November 2019 Lee invested in FC Thun Football Club. In January 2020, several media reported Lee is in the race to buy KV Oostende Football Club competing with David Blitzer, co-owner of Crystal Palace Football Club and NBA team Philadelphia 76ers. After selling French football club OGC Nice to Great Britain’s richest man Jim Ratcliffe back in August 2019, Lee wanted to return to French football. Already owner of the Barnsley FC in England and FC Thun in Switzerland, Lee is now looking to expand his portfolio once more. After prospecting several French clubs, Lee set his sights on Toulouse and its football club and entered into exclusive negotiations to buy Toulouse FC in March 2020. In May 2020, Lee completed the acquisition of KV Oostende Football Club, the only professional football club on the Belgian coast and the 4th European soccer investment for Lee. after purchased KV Oostende Football Club, Lee continue to pursue the French football club Toulouse FC and competing with tech tycoon Michael Dell and his investment fund MSD Capital which also in the race to buy Toulouse FC. In a 2018 interview with Forbes, Lee state that he is a long-term investor in football, he will use data approach to identify talents and focusing on young players on the sporting side and balance the budget on the business side, his strategy contrasts with sharply with that of many other investors currently in European football, where huge sums of money are invested in marquee players and success is expected overnight. Lee’s ambition to build a European football empire continues as his soccer portfolio keep expanding, By May 2020, Lee invested in 4 European football clubs.
OGC Nice Football Club
Barnsley Football Club
FC Thun Football Club
KV Oostende Football Club
OGC Nice Football Club
In June 2016, Lee purchased French soccer team OGC Nice and became the Chairman of board and co-owner at OGC Nice Football Club, a French association football club based in Nice. media reported Lee acquired the football club for €20 million and is one of the notable sport acquisition in 2016. during Lee’s first year of ownership, the club signed Italian striker Mario Balotelli from Liverpool FC and qualified for the UEFA Champions Leaguefor the first time in its history, in June 2018 Lee appointed Arsenal legend Patrick Vieira as OGC Nice manager. In August 2019, Lee had sold OGC Nice to Ineos run by Great Britain’s richest man Jim Ratcliffe for €100 Million, making OGC Nice the most expensive ever in French football history, costing significantly more than the €79m spent by the Qatar Royal family to buy Paris Saint-Germain in 2011 and the €45m paid out by Frank McCourt for the acquisition of Marseille in September 2016. It is also more than Bordeaux and Lille were sold for in 2018.
Barnsley Football Club
In December 2017, Lee acquired English soccer team Barnsley FC after attempted to purchase Hull City FC, Middlesbrough FC and Brentford FC and became the co-chairman and co-owner of Barnsley FC, a professional association football club based in the town of Barnsley, South Yorkshire, England, Lee is joined by ’Moneyball’ pioneer Billy Beane on the acquisition, since taking over Barnsley FC, the club use data model originally practice in baseball in the U.S, focus on signing talented young players and achieved great success with the data-based player analysis and player identification, in 2018/19 the club was promoted to the English Championship.
FC Thun Football Club
In November 2019, Lee became an investor of FC Thun football club, a Swiss football team from the Bernese Oberland town of Thun. after the investment, the club use the data-based player analysis and player identification to expand European network for potential player transfers, and marketing the club in the Asian region to extended sponsoring options.
KV Oostende Football Club
In May 2020, Lee acquired the Belgian top division team KV Oostende Football Club, a Belgian football club from the city of Ostend, West Flanders, the 4th European soccer club Lee purchased. Lee saw a lot of potential in this club and can strengthen this team with the data approach to identify talents, Lee believes a lot of talent in Belgium and the KV Oostende Football Club youth academy are very important to the success.
Hotel Industry
Lee actively invested in hospitality Industry, in 2014 he invested in Asian Coast Development Ltd., the developer of The Grand Ho Tram Strip in Vietnam, one of the region's largest integrated resorts to capture the Vietnam booming tourist markets, in a 2014 interview with Forbes, Lee described the Ho Tram Strip is a “hidden diamond” and the tourism is one of the most important driving forces for Vietnam’s economic development. the investors in the Ho Tram Strip including Warburg Pincus and Harbinger Capital, the first phase of the Ho Tram Strip development includes The Grand Ho Tram Resort & Casino, a 5-star award winning hotel and resort, international conference center and heliport which opened in July 2013 as well as The Bluffs Ho Tram Strip, a Greg Norman designed links-style Championship golf course, which opened in October 2014 and in 2015 was named the World’s Best New Golf Course and is ranked #35 in The World by Golf Digest. In 2005 Lee co-founded 7 Days Inn, one of the largest budget hotel chain in China to focus on the booming Chinese domestic travel industry, Lee saw tourism in China is growing and the emergence of a newly rich middle class fueling the travel boom, China has become one of the world's most-watched and hottest tourist markets. In 2006, Warburg Pincus invested in 7 days inn. In 2007, Merrill Lynch, Deutsche Bank, and Warburg Pincus further invested in the hotel chain, in September 2009, 7 Days Inn listed on the New York Stock Exchange. the hotel chain has grown from 5 hotels in 2 cities in 2005 to 283 hotels in 41 cities when it listed on the New YorkStock Exchange in 2009, In July 2013 the founders of 7 Days Inn together with Carlyle Group and Sequoia Capital took 7 Days Inn private to form Plateno Hotels Group, the holding company of 7 days inn, by end of 2014, 7 days inn had 2000 hotels in 320 cities, In 2015 Jinjiang Hotels bought 81% of 7 Days Inn for US$1.3 billion.
Other Activities
Lee founded and served as chairman of CS China Acquisition Corp, a blank-check company also known as special purpose acquisition company, raise capital from the public market through an IPO for the purpose of acquire an operating business through a share exchange, asset acquisition, or other similar business combination at a later date, In August 2008, CS China Acquisition consummated its initial public offering and listed on the NASDAQ. and completed its initial business combination in February 2010 with Asia Gaming & Resorts, Ltd. to form Asia Entertainment and Resources Ltd, a hospitality company in Asia.
