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COLLAPSE! Chinese club commits bankruptcy after being relegated

COLLAPSE! Chinese club commits bankruptcy after being relegated

Recently, Shanghai Shenxin released an announcement, confirming that they would withdraw from the Chinese League Two this season.

Last year, Shanghai Shenxin FC just stood at the 16th position in the China League One, which made them get relegated. Disappointing about the result, officials decided to dissolve all the activities.

Players and coaches knew about it a few days ago, so they did not appear at the training ground as they do every day.

Speaking about that decision, club officials said that they could not waste more money to maintain the Shanghai Shenxin FC, which costs a yearly budget of around 50 million yuan.

In the past, Shanghai Shenxin FC used to play in the Chinese Super League from 2010 to 2015. However, after being relegated to the China League One 5 years ago, they found it unable to rise again, then continue getting relegation in 2019.

Following Shanghai Shenxin, Beijing Sport University may be the next club that commits bankruptcy this year.

COLLAPSE! Chinese club commits bankruptcy after being relegated

Recently, the wife of midfielder Lu Zheng complained that the club owed players five months of salary without paying. Moreover, they said nothing about solving that problem as well as found any possible methods to deduct the player's salary.

The situation of lower-league clubs in China was always unstable when they can be bankrupt at any time if their invertors decided to withdraw.