The owners of Chinese Super League champions Jiangsu FC have announced that the club have ceased operations.
Jiangsu Suning, which also owns Serie A leaders Inter, is looking for other companies to invest in the Chinese club and they could miss out on qualification for the new season unless new money floods in.
On February 19, Suning chairman Zhang Jindong ordered the group’s non-retail businesses to shut down as much as possible. Days later it was reported that Jiangsu Suning were prepared to sell Jiangsu FC at an extremely low price.