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 “30 million yuan (US$4.84 million) debt payment”.
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’s 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’s financial woes. In return, it demanded Shenhua consider shifting base to Kunming, capital of southwest China’s 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 “foreign” signings during the CSL mid-season transfer window — Senegal striker Demba Ba and Mali international Mohamed Lamine Sissoko. Midfielder Sissoko could make his Shenhua debut in Saturday’s CSL match against Guangzhou R&F.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
