Chinese soccer was thrown into disarray on Sunday as the homeowners of reigning Chinese Super League champions Jiangsu FC introduced the membership would cease operations with fast impact. A submit on Jiangsu‘s official WeChat account expressed hope of new backers or that a “company of insight” would be willing to consult on the team’s future.
The announcement said all of homeowners Suning Group’s soccer golf equipment, together with the vastly profitable Jiangsu Suning Women, would “cease operations from today”. The Nanjing-based retailer, one in every of China’s largest and which additionally owns Italian Serie A membership Internazionale, earlier in February mentioned it supposed to concentrate on core companies, leaving non-retail property in danger.
Such property embody Jiangsu FC, which received the Chinese Super League title in November for the primary time with a play-off win over eight-time champions Guangzhou Evergrande.
That victory was the top of a run by a as soon as cashed-up membership beforehand coached by ex-England supervisor Fabio Capello, and which in the summer season of 2019 tried to signal Gareth Bale, previously the world’s most costly participant, from Real Madrid.
The squad that clinched the title and a spot in this yr’s Asian Champions League featured Brazilian winger Alex Teixeira, who selected to make a €50m ($60.37m) swap to Jiangsu in 2016 over curiosity from Premier League facet Liverpool.
When Teixeira refused to signal a brand new contract on the finish of final season and with coach Cosmin Olaroiu reported to be unlikely to return to the membership, questions began to be requested of Jiangsu‘s monetary future and the knock-on impression on soccer in China.
The Jiangsu announcement comes days after Chinese FA Cup winners Shandong Luneng had their expulsion from the Asian Champions League confirmed by the Asian Football Confederation because of “overdue payables”.
Should Jiangsu fail to search out new homeowners quickly, their absence may trigger additional upheaval in the Asian Champions League forward of the beginning of the continental competitors in April.