- GUANGZHOU — Guangzhou FC, the most successful soccer club in Chinese history,
disbanded on Monday due to crippling debts.
Chinese soccer fans from the Guangzhou F.C. Fans Union cheer
during a match for the Super League of Chinese Football Association in
Guangzhou in south China’s Guangdong province, on Aug. 8, 2009. (Chinatopix via
AP, File)
- The club, formerly known as Guangzhou Evergrande, has
been unable to meet the Chinese Football Association's financial entry
requirements needed to compete in the 2025 domestic s eason.
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- “Due to heavy financial burdens resulted from previous
seasons, the club could not pay off all the debt by the deadline,” Guangzhou
said in a statement. “We express our sincere apology to all the supporters from
across the community and we appreciate the understanding and forgiveness of all
the fans very much.”
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- After being taken over by property developer Evergrande
in 2010, the club started the spending spree in China that made headlines
around the world.
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- Helped by players such as Brazilian international
Paulinho and elite coaches such as Marcello Lippi of Italy and Brazil's Luiz
Felipe Scolari, Guangzhou won eight Chinese Super League titles from 2011 to
2019. The team triumphed also won the Asian Champions League in 2013 and 2015.
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- Other clubs followed with world-famous stars such as
Carlos Tevez, Nicolas Anelka, Oscar, Didier Drogba and others heading to China.
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- In 2021 however, Evergrande reported debts of over $300
billion and, as key players left the club due to financial issues, it was
relegated to China's second tier in 2022.
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- On the same day, Chinese Super League club Cangzhou
Mighty Lions also announced its disbandment, as did third tier club Hunan
Billows.
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- “Only by setting sights on the long term, keeping the
financial operation in a healthy status and investing in youth with patience
should clubs build a robust future,” the Chinese Football Association said in a
statement, adding that 49 teams had been deemed financially ready to compete in
the top three tiers of the league system in 2025.
