Future of Sport: A Global Sports Week x Viva Technology Collaboration, Will Open in June 14
12 Jun 2023 14:59
Shenzhen Funde Holdings Group and Yanbian Changbaishan FC have agreed to extend their partnership by signing a strategic cooperation deal under which the Shenzhen-based company will acquire a 70% stake in Yanbian FC.
Under the deal, Yanbian Changbaishan FC, which earned promotion to the top-flight Chinese Super League (CSL) for next year, will be renamed Yanbian Funde FC and will have a corporate administration structure. The club will be under joint administration.
As part of the deal, Shenzhen Funde Group will provide the CSL club with advanced management experience and stable financial support with the aim of building a strong team and a famous football brand in China.
The deal is built on their original partnership reached in April, under which Funde’s life-insurance brand, Funde Sino Life, are to provide 80 million yuan for the club’s future development over a three-year period.
Yanbian were supposed to be relegated from the second-division China League One to the third-tier China League Two last year, but when one of the second-tier clubs, Shaanxi Wuzhou, was dissolved due to financial problems, Yanbian were allowed to stay in League One.
Given that reprieve, Yanbian won the second-tier competition with 17 wins, 10 draws and three losses in 2015, thus earning promotion to the Chinese Super League for 2016.
Source: NetEase
Proofread by John Devlin
Future of Sport: A Global Sports Week x Viva Technology Collaboration, Will Open in June 14
12 Jun 2023 14:59
Related coverage
How are Chinese football clubs fostering allegiance among fans??
08 Dec 2016
Shanghai Xiaoyuan to partner World Freestyle Football Federation
06 Jan 2016
Ronaldo to attend SIPG versus Evergrande CSL game
18 Jul 2017
Jiangsu Suning FC signs partnership with Joeone
26 Feb 2019
Shenzhen to have 900 soccer fields by 2020
10 Nov 2017
More from Yutang Sports
SportAccord's interview with Sarah Gregorius: proactive actions are necessary to tackle online abuse
28 Apr 2024
Leading legal minds tackle athlete representation and rules for transgender athletes at LawAccord
16 Feb 2024
Reasons why Leading Gold Partner Sport Event Denmark returns to SportAccord every year
08 Feb 2024
SportAccord calls for the power of sport to lead anti-abuse actions
17 Apr 2024
SportAccord announces first speakers - World Sport & Business Summit 2024
06 Dec 2023
Yutang Sports
loading...