Shenhua sued for breach of contract
Print Edition
Shanghai Greenland Shenhua FC has become embroiled in a legal tangle after a Yunnan company asked the club for a 鈥30 million yuan (US$4.84 million) debt payment鈥.
Yunnan Zhisheng Hengyuan Sports Industry Development Co Ltd has sued Shanghai Greenland Shenhua FC Co Ltd and Shanghai Shenhua Liansheng FC Co Ltd for not paying a 30-million yuan compensation after breaking a contract two years ago.
Greenland Shenhua spokesperson Ma Yue told Shanghai Daily yesterday that the club was aware of the issue, and would talk to the previous owners to deal with it.
Shanghai Shenhua Liansheng FC Co Ltd was the owner of the club before state-owned real estate developer Greenland Group acquired it last January. Liansheng鈥檚 shareholders included Shanghai Electric Group, Shanghai SVA Group, Huangpu District State-owned Assets Supervision and Administration Committee, Shanghai Media & Entertainment Group, and investor Zhu Jun.
The team encountered financial problems in the middle of the 2012 Chinese Super League season which caused delays in salary payments, and partially led to the departure of the former Chelsea pair Didier Drogba and Nicolas Anelka. The Yunnan-based company offered a 30 million yuan investment to ease the club鈥檚 financial woes. In return, it demanded Shenhua consider shifting base to Kunming, capital of southwest China鈥檚 Yunnan Province, for three years.
The two sides signed a contract on September 6, 2013, which required that Shenhua pay a sum of compensation, which was said to be 30 million yuan, if it went back on its commitment.
Ma said when Greenland Group took over the club, it paid the 30 million yuan back to the Yunnan firm, as well as an unknown amount in compensation. According to Ma, they had not yet received the court summons but club officials would talk to the previous shareholders and sort out the problem.
Shenhua just announced its two 鈥渇oreign鈥 signings during the CSL mid-season transfer window 鈥 Senegal striker Demba Ba and Mali international Mohamed Lamine Sissoko. Midfielder Sissoko could make his Shenhua debut in Saturday鈥檚 CSL match against Guangzhou R&F.
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