Zimbabwe FC withdrew from the Champions League earlier this month.© AFP
Four weeks after the financially stricken club, Jiangsu FC was knocked out of the Chinese Super League on Monday. Jiangsu has yet to be officially disbanded but struggling Suning, Conglomerate himself who is also Inter Milan, has failed to find new investors to handle the ailing club.
The club’s demise underscores the widespread financial problems caused through Chinese football, which a few years ago had a reputation for sprinkling money on star foreign players such as Brazil’s Oscar, Hulk and Paulinho.
Earlier this month, Jiangsu withdrew from the Asian Champions League.
On Monday, the Chinese Football Association released the names of six professional teams that have not received approval to fight for the new season.
Jiangsu will be replaced by Cangzhou Mighty Lions in CSL.
The other five teams drawn from the league are in the second or third division.
The Tianjin Tigers – another club that is reportedly in serious financial trouble – are listed among 16 CSL teams that will kick off the new season next month.
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On February 28, Nanjing-based Jiangsu FC threw Chinese football into turmoil, saying it was a “discontinued operation”.
In November, the club won the domestic league title for the first time.
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