With rumours circulating all summer regarding the sale of the club, the Cowichan Valley Capitals confirmed a new majority owner on Friday.
Ray Zhang — an international businessman from China — takes over from former owner Cory Wanner of Saskatchewan, who purchased the club in 2013. Local minority owners still remain in the Duncan area.
Bob Beatty continues with the team as general manager and head coach.
“Ray is looking forward to working with the local ownership and has ambitious visions for the team,” Beatty said in a statement.
Zhang is expected to move to the area along with his family.
“I am extremely honoured and excited to be involved with the Cowichan Valley Capitals. The Capitals have a reputation of having the best fans in the league and my family and I look forward to being part of your community,” Zhang said in the statement.
“This transaction is the first time someone from China has purchased an overseas hockey franchise. It will open a door for hockey families in China to learn about Canadian hockey first hand,” he added. “This link to Canadian hockey will prove valuable to encourage all of our young hockey players in China.”
The Capitals will begin their regular season on Sept. 10 at home at the Island Savings Centre against Powell River. Cowichan also entertains the Victoria Grizzlies on Aug. 25 at 7 p.m. in a preseason game at the Big Stick.
mannicchiarico@timescolonist.com
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