Monday, February 20, 2006

CSL's Shenzhen sells name to brewery sponsor

China Super League team Shenzhen Jianlibao FC has changed its name to Shenzhen Kingway after Kingway Beer contracted a RMB 40 million (approximately $5 million) deal as the title sponsors of the club. "With Kingway's investment Shenzhen will solve its financial problems," said Shenzhen general manager Meng Qingseng, as quoted by AFCMedia. However, it is not yet confirmed if Kingway will take over the management of the club.

Shenzhen’s owners, the Huizhong Tianheng Group, presviously resorted to selling key players to recoup losses. End-season moves saw ex-international striker Yang Chen transfered to Xiamen Lanshi, China captain Li Weifeng to Shanghai Shenhua and national team goalkeeper Li Leilei to Shandong Luneng. However the club still remained RMB 40 million in debt.

See also: 2006 comings and goings in China Super League (3 Dec)

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