Hebei FC halts operations, seeking new investor
Print Edition
Chinese Super League club Hebei FC is on the brink of becoming the second team from the country鈥檚 top division to shut its doors this year after ceasing operations on Tuesday.
The club issued a statement saying operations would not continue until a new investor was secured. 鈥淐onsidering its operation has practically stopped, the club decided that from the date of October 26, 2021, to cease operation with its employees furloughed,鈥 the statement said, according to Xinhua news agency. Last year鈥檚 CSL champion, Jiangsu FC, went out of business in March when owner Suning said it would no longer back the club. Hebei is owned by property developer China Fortune Land Development and has previously been among the biggest spenders during the boom years of Chinese football. Hebei lured Argentinian duo Ezequiel Lavezzi and Javier Mascherano to the CSL on huge wages while former Manchester City and Real Madrid manager Manuel Pellegrini led the team from 2016 to 2018. Despite its largesse Hebei had limited success, its best performance coming in 2017 when the club finished fourth. Hebei has qualified for the championship rounds of this year鈥檚 CSL, which are due to be played in December. It was knocked out of the Chinese FA Cup by second division side Shaanxi Changan earlier this month.
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