The new Chinese Super League (CSL) season is set to kick off on June 3, but while the feast is yet to begin, Chongqing Two Rivers Athletic may face a possible shutdown due to a debt crisis that could take them out of the CSL arena. The team is currently out of training, and although the players have said they are willing to waive their salary arrears until April 2021 to help the club tide over the difficulties, the situation remains dire. It is reported that the team is likely to announce the shutdown soon.
The team launched a strike recently due to longstanding salary arrears, and on May 18, eye-catching pay banners were hung in front of the club in Chongqing's bustling neighborhood, attracting widespread public attention. The players are now owed more than a year's salary, with the longest being 16-18 months, which has had a serious impact on their daily lives. Some players have had to sell their properties and vehicles, while club employees have even become takeaway boys to make ends meet. Although the players and coaches are willing to give up part of their salaries, none of this seems to help in the face of the Contemporary Group, which is on the verge of bankruptcy.
May 21, contemporary group related personnel released a written statement of the situation, forwarded by the team leader Wei Xin. In the note, contemporary group revealed that this season's team budget of about 170 million, if the two rivers group can provide 50 million sponsorship, the team can enter the tournament; if the sponsorship is not in place, the group will immediately stop the club's operations. The note also mentioned that since the involvement in Chongqing soccer, the contemporary group has invested 3 billion, is currently facing a huge debt risk.
The Contemporary Group suggested that the Chongqing Municipal Government and Sports Bureau take over the club temporarily, emphasizing that the sponsorship money from the Two Rivers Group was key to the team's ability to compete.
There has been no official response as to whether Chongqing Football Club will be able to continue operating. But according to the gossip circulating, the situation is not optimistic. The Sports Bureau may not take over the club due to its limited capacity, and Chongqing seems to be powerless to go back to the game, just waiting for the official announcement of the shutdown.
Lumi, a soccer reporter who has been following Chongqing for a long time, was also pessimistic about the team's prospects, taking to social media to call on the players to find a new owner and suggesting that they go through labor arbitration procedures. Her statement indirectly foreshadowed the tragic end of the Chongqing club.
The Chinese Football Association (CFA) has now finalized the Chinese Super League fixtures. In the event of Chongqing's suspension, all relevant matches will be awarded to the opponents for a 3-0 win. Before the start of the league, the CFA may open a special transfer window to help Chongqing players find new clubs.
