Czech billionaire Pavel Tykac acquires Slavia Prague soccer club

 Czech businessman Pavel Tykač has acquired Slavia Prague from Chinese investment group CITIC, the club said Thursday.

Tykač, an energy investor, is the fourth-richest Czech whose wealth is estimated at $8.2 billion, according to Forbes.

Terms of the deal weren't disclosed. The transaction includes Slavia’s stadium.

The 59-year-old Tykač said he is a diehard Slavia fan, like his father and grandfather, and it would be “a big honor” for him to oversee the club’s development. He will chair Slavia's board.

During five years under CITIC's ownership, Slavia reached the quarterfinals of European competitions three times, won three domestic titles and three Czech cups.

The club has qualified for the round of 16 in the Europa League this season.

The sale is expected to get final regulatory approval in February.