VivaTech takes the stage as the world's leading event for tech and startups
19 Jun 2023 18:33
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
Related coverage
Grandland Decoration invests RMB150m in Evergrande FC
27 Nov 2015
2015 in review: the sports business in China (II)
31 Dec 2015
Average 2016 CSL attendances rank 5th in the world
23 Jan 2017
CSL, Tmall and Shankai Sports reach partnerships
14 Sep 2018
Guangzhou Evergrande to receive more finance support from government
13 May 2015
More from Yutang Sports
SportAccord announces first speakers - World Sport & Business Summit 2024
06 Dec 2023
Wiz-Team provides smart event management system for SportAccord 2024
14 Mar 2024
Leading sports charity, Podium Analytics, announces Trusted Research Environment for Global Sport
11 Apr 2024
SportAccord’s conversation with FEI President Ingmar De Vos: Equestrian sport’s road to Versailles
22 Apr 2024
Interview with Nicolas Maurer: Becoming Mainstream and at the Forefront of French Esports Industry
04 Oct 2023
Yutang Sports
loading...