Jiangsu Suning players cheering while lifting last year’s league championship trophy. [신화=연합뉴스]
– China’s Professional Football Super League (Part 1) Last season’s champion Jiangsu Suning declared the team disbanding. As the parent company (Suning Group) faced financial difficulties due to Corona 19, the company announced a reduction management policy on the 28th of last month. The suspension of the football team is one of them. The Chinese Football Association made a statement on the 1st, “I regret the decision to disband the Jiangsu club, but we respect the responsibility for the old land according to the economic situation.”
Overseas team tensions acquired by Chinese companies
– Jiangsu, who won the Super League in November last year, disappeared into history after the team disbanded in just three months. “The Chinese government is helping the Suning Group to normalize management. It announced that it will invest 14.5 billion yuan (2.5 trillion won) through a state-owned company and acquire a 23% stake.” There are no reports regarding the soccer team.
It’s not just Jiangsu. Amid the corona 19 pandemic, many Chinese companies that have invested in soccer teams are experiencing financial difficulties. Several teams, including Tianjin Tianhai, Tianjin Teda, and Liaoning Hongyun, have already closed their doors. High-ranking teams such as Guangzhou Hengda and Shandong Luneng are also struggling enough to not be able to pay their squad salaries in time. Football fanatic Xi Jinping, Chinese President Xi Jinping, who founded a soccer team to buy the favor of the Chinese state, are sitting down after being repelled by Corona 19 after operating only a room.
The shock from China is expected to have a significant impact on the global soccer market. The Suning Group, the parent company of Jiangsu, is the largest shareholder of Inter Milan, a prestigious Italian professional football company. In 2015, it bought a 68.66% stake and actually took over the club. If this season’s Serie A (Italian Division 1) leader Inter is affected by the collapse of its parent company, the red light could light up in the winning race.
The Suning Group is negotiating the sale of its stake in Inter with British investor BC Partners. It is known that the difference in amount between the two sides is large, causing difficulties. If the sale of the stake is not feasible, the Suning Group is reportedly considering a plan to recover the investment by selling a classic star, such as Romelu Lukaku (28), who can receive high transfer fees.
Reporter Song Ji-hoon [email protected] 
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