Taizhou Yuanda Club News
Even though Central League One team Taizhou Yuanda has officially announced its exit, the negative news has not subsided. According to an April 2 report in the Oriental Sports Daily, Taizhou Yuanda Club underwent a change of legal entity and a change of shareholding last week, making it impossible to enforce a judgment against the players and staff who are owed wages.
The report revealed that Taizhou Yuanda Club completed the legal person replacement and equity change on March 24th and 27th respectively. Previously, the club's shareholding structure was 73% held by Chairman Li Yang and 27% held by Taizhou Yuanda Contribution Group. Now, the club's legal representative has changed to Fang Xinquan, Li Yang's personal shareholding fell to 55%, while Taizhou Yuanda Capital Group shareholding rose to 45%. It is worth noting that Fang Xinquan has no direct connection with Taizhou Yuanda Capital Group and the club.
