Champions ‘go out of business’ as money woes a dog

Champions 'go out of business' as money woes a dog

Shanghai (AFP) – Chinese Super League champions Jiangsu FC have “ceased operations,” the club said on Sunday, highlighting financial problems plaguing football in the country.

Jiangsu, who first won the national title just three months ago, is part of conglomerate Suning – which also owns Italian giant Inter Milan.

The disappearance of Jiangsu, known until recently as Jiangsu Suning, could be followed in the coming days by the closure of his compatriot CSL Tianjin Teda.

Chinese football has gained a reputation in recent years for spending hugely on foreign players and coaches as the country strives to become a world leader in the sport.

Jiangsu called on former England coach Fabio Capello and signed Brazilians Alex Teixeira and Ramires for 50 million euros and 28 million …

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