Although the Taizhou Yuanda Football Club has officially announced its exit, the negative publicity surrounding the club has not subsided. According to a report by Oriental Sports Daily on April 2, the club underwent a major change in its legal entity and shareholding last week. This change, even if the players and employees who are owed wages win their cases, may end up with implementation difficulties.
The report revealed that Taizhou Yuanda completed the change of legal representative and shareholding on March 24th and 27th respectively. Previously, the club's shareholding 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%, while Taizhou Yuanda Investment Group increased to 45%. It is worth noting that there is no direct interest between Fang Xinquan and Taizhou Yuanda Investment Group and the club.
