Friday, February 09, 2007

Shanghai United buys-out, merges with Shenhua

Shanghai United has announced the US$ 20 million buy-out of local Chinese Super League club rivals Shanghai Shenhua. According to AFCMedia, the two clubs will merge and play in the CSL and the AFC Champions League as Shanghai Shenhua. However the China Football Association has not yet given its approval so far to the merger while the AFC is yet to receive the player registrations from Shanghai Shenhua for the upcoming edition of the AFC Champions League.

“We started discussing this deal not long ago. Some of the media also knew about it,” Shanghai Shenhua Manager Wu Ji Nan said. "We are working hard to convince the CFA to grant a special transfer window for us to release redundant players. "We hope no one is out of a job as a result of the merger."

Shanghai Shenhua finished as runners-up last season behind runaway winners Shandong Luneng while Shanghai United, owned by business magnate Zhu Jun, were seventh in the 15-team standings.

No comments: