Expert insight | New changes on UEFA EUROs: growing maturity of Hisense and other Chinese brands
22 Jul 2024 19:18
It has been reported that the Chinese Football Association China League side Yanbian Funde Football Club have been dissolved because the club failed to settle its outstanding tax demand.
It was reported that the club has an unpaid tax debt as high as CNY240m which was disclosed by the Yanbian Sports Bureau. Yanbian Sports Bureau has some stakes in the football club and the main investor is the Chinese company Funde Group.
Funde Group made an investment of CNY170m in the club in 2016 and took control of the club. In 2015 season, Yanbian Funde FC was promoted to play in the Chinese Super League. However, they were later relegated to the Chinese Football Association League in the 2018 season.
It is said that Funde Group did not invest any more money in the club after the initial CNY170m investment. However, on the contrary, the club had an unpaid tax debt.
Yanbian Funde FC is the first professional team in Chinese professional football leagues that was dissolved as a result of bad debt and financial problems. Although the football club has an origin dating back to 1955, it is unfortunate this tragedy was not avoided.
It is reported that the CFA is encouraging football clubs to take over Yanbian’s players after Yanbian Funde FC is officially dissolved.
Reference: Baijiahao
Proofread by Levison Makuvise
Expert insight | New changes on UEFA EUROs: growing maturity of Hisense and other Chinese brands
22 Jul 2024 19:18
The United States Tops Skema Publika's First Annual Sport and Soft Power Ranking
27 Mar 2025 14:05
Related coverage
Brazilian players chasing cash-rich Chinese football
13 Apr 2015
NeuLion streams US Open to tennis fans in China
14 Sep 2015
Chinese football stock market soars 158%
08 May 2015
CFA to establish Chinese Professional Football League
22 Feb 2016
New project launched to develop campus football coaches
02 May 2017
More from Yutang Sports
SPORTACCORD confirms Istanbul as Host City for 2025 Convention
13 Mar 2025
The United States Tops Skema Publika's First Annual Sport and Soft Power Ranking
27 Mar 2025
Expert insight | New changes on UEFA EUROs: growing maturity of Hisense and other Chinese brands
22 Jul 2024
Hisense Named Official Partner of FIFA Club World Cup 2025
01 Nov 2024
Yutang Sports
loading...