Jiangsu, the Chinese Premier League champions, which owns the same owners as Inter Milan, has announced that it has “stopped working,” the club said on Sunday.
Suning owners said they were closing the club to focus on the country’s core retail business.
Jiangsu won their first league title in November 2020.
Former England coach Fabio Capello was their manager between 2017 and 2018 and Gareth Bale was the coach About to sign them From Real Madrid in 2019.
A source at Suning told BBC Sport that there would be no impact on Serie A top Inter, but it was understood that the club had been looking for outside investments for several months.
“Although we are reluctant to abandon the players who won the highest honors and the fans who have shown their solidarity with the club, we must unfortunately declare,” Jiangsu FC said in a statement.
From today, the Jiangsu Football Club has stopped operating its teams.
“For the past six months, the club has been looking around to seek possession.”
Speaking earlier in February, Suning Chairman Zhang Jindong said, “We will focus on retail trade firmly and without hesitation we will shut down and cut off our non-retail business.”
Impact on Inter?
Analysis by Simon Stone at BBC Sport
The Chinese government appears to be reducing its commitment to Chinese football and reducing sponsorship and television rights because the costs have been huge and interest remains unstable.
The European situation is clearly different. However, Inter’s owners have been looking to foreign investment, so far to no avail, as their wage bill is huge.
Suning was also at the center of the £ 564m annulled contract to screen the Premier League in China until 2022, which he had Great financial impact on first-division clubs in England.
The uncertainty about Suning will create overall tension in Europe, where there are other examples of Chinese investment in the European football slowdown, with West Bromwich Albion an example. Even Fosson, the wolf owners, although still spending, backed off some of the colossal capital costs around developing the Molyneux, which they wished to expand to its 40,000 capacity.
Inter is a bigger club of course, and as they stand on the brink of their first title since 2010, their fans are hoping the guarantees about their future will be accurate.