Chinese Super League side Tianjin Tianhai have declared bankruptcy and ceased operations.
The club has been struggling financially since last year when their owner Shu Yuhui was arrested for organizing and leading a pyramid scheme.
Shu was sentenced to 9 years in Prison in January.
Shenzhen FC will take Tianjin’s place in the 2020 Chinese Super League which has been delayed due to the global coronavirus pandemic.
Tianjin finished the season third-bottom, one place above Shenzhen FC, who were relegated.
Tianjin Tianhai issued a statement: ’’Given an unsustainable financial situation, the club is no longer able to maintain normal operations.
‘’After a period of thoughtful consideration…the club has no choice but to formally announce that Tianjin Tianhai is disbanding.’’
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