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Even though the Central League One team Taizhou Yuanda officially announced its withdrawal, the negative turmoil still hasn't subsided. According to a report by Oriental Sports Daily on April 2, Taizhou Yuanda Club has recently undergone a change of legal representative and equity reorganization, which is facing an unattainable predicament for the players and staff who are owed salary, even if they win the lawsuit to collect their salary.
Specifically, Taizhou Yuanda completed the legal representative replacement and equity adjustment on March 24 and 27 respectively. Previously, the club's equity was 73% held by Chairman Li Yang and 27% by Taizhou Yuanda Investment Group. Now, the legal representative has been changed to Fang Xinquan, Li Yang's personal shareholding fell to 55%, Taizhou Yuanda Investment Group shareholding rose to 45%. It is worth noting that Fang Xinquan has no direct interest in Taizhou Yuanda Investment Group and the club.
