BEIJING, March 1 (Xinhua) -- The Chinese Football Association (CFA) said on Monday that the association feels sorry for the dissolution of Chinese Super League champions (CSL) Jiangsu FC but respects the club's choice.
Jiangsu FC announced on Sunday that it will no longer be able to operate due to financial reasons ahead of the 2021 season. The meltdown came just 108 days after the team made history by taking its first-ever CSL title.
"The CFA pays great attention to this matter and we have been in communication with Jiangsu FC. CFA feels sorry for the the announcement that the club will no longer operate, but respects their choice," the Chinese football governing body noted.
Jiangsu, which is owned by Sunning Holdings Group, has faced a precarious financial situation since last season. Sources told Xinhua that retail giant Sunning, who is also the owner of Italian Serie A club Inter Milan, is in financial trouble and it will pivot its business away from sport.
"Suning has made great contribution to the development of Chinese football since it started to run the club in 2015. We are very thankful for it," the CFA said.
The CFA also said it will continue to implement the football reform plan published in 2015 and strengthen the foundation of Chinese football by developing youth football and improving professional leagues. Enditem
