Defending Chinese Super League champions Jiangsu FC are looking for a new owner to avoid disbandment.
According to sources in China, via Titan Sports PlusJiangsu owners Suning Group are offering the club for as little as a dime, with the organization seeking to focus solely on its retail division.
Taking on the club involves accepting huge debts in the range of RMB 500million, or € 63.77million, with the club facing the prospect of disbandment with Suning no longer interested in handling the club – preseason training has not yet resumed. after the Spring Festival holidays.
The Nanjing-based club won a historic first Chinese league title in 2020, beating frontrunners Guangzhou FC (formerly Evergrande) and nearly clinching a domestic brace – falling to Shandong Taishan (formerly Luneng) in the final.
With the Chinese federation’s decision to force clubs to rebrand, a number of clubs have emerged as having unstable ownership situations – some ownership groups choosing to opt out altogether with no further interest in being involved in it. clubs they had owned for many years. .
Jiangsu, Chongqing and Tianjin Tigers (formerly TEDA) have all faced uncertain ownership situations this offseason, with only Chongqing apparently having received help from the local government to secure their immediate future.
If a viable owner cannot be found, Jiangsu could head for what appears to be the fate of Tianjin, which will see the club disbanded just months after being crowned Chinese soccer champion.
Seeing Jiangsu disappear would be a shocking development for Chinese football, in what has been one of the most troubled and volatile offseason in recent memory – seeing a number of prominent importing talents leave the country, even after years. of service and success.
Previous reports suggested that the Wuxi municipal government wanted to help save the club, but an agreement could not be reached between the two sides.
It can be an avenue revisited with the current state of affairs and it will be a story worth following with so much uncertainty yet to come for the club.