SPORTACCORD 2024 INSIGHTS: Sport’s Perfect Storm
23 May 2024 14:34
Chinese Super League giant and two-time Asian champions Guangzhou Evergrande Taobao FC has been reportedly urged by Guangzhou Huadu Court to pay a compensation of RMB24.77 million (US$3.8 million) to Dongfeng Nissan, a Chinese-Japanese joint auto maker. This comes following the club’s unilateral move to change their shirt front advertisement for the 2015 AFC Champions League final.
According to a report on Xinhua News Agency, Evergrande admitted that club has received a ruling from Guangzhou Huadu Court last week to pay a fine of up to RMB24.77 million.
Dongfeng Nissan, based in Wuhan, was the shirt sponsor of Evergrande in 2014/2015. They took a legal action against Evergrande in December 2015 for the club’s unilateral decision to drop Dongfeng Nissan’s logo and replace it with Evergrande Life for the 2nd leg of 2015 AFC Champions League final.
Dongfeng Nissan paid over RMB100m for the shirt sponsorship rights of Guangzou Evergrande in 2014/2015 and have yet to pay the 6th installment of RMB24m to the club. However, the club will not be asked by the Court to exempt the 6th installment, which means the car maker will still need to pay Evergrande the approximate amount.
Source: Xinhua
Proofread by Sean O Diobhilin
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