BEIJING, June 21 (Xinhua) -- Chinese Super League (CSL) side Beijing Guoan announced Monday that CITIC Guoan no longer holds any shares of the club, which allows the club will keep its 28-year-old name Guoan.
The Chinese Football Association introduced regulations last December, requiring clubs to remove references to sponsors or investors in the club names in a bid to keep the club name stable in the long run.
According to Beijing Guoan's announcement, the Sinobo Group has completed its purchase of the CITIC Guoan shares of the club. It will allow Guoan to keep its name, which has been in use since its founding in December 1992, two years before China's professional league was launched.
CITIC Guoan used to be the club's second-largest shareholder, holding 36 percent of the shares. Enditem
