Dalian Aerbin FC, a China League One football club, has reportedly informed the club members at an internal meeting that Dalian Yi Fang Group would take over the club with 40 million RMB plus debt repayments.

Yi Fang Group, an investment holding company with businesses in financial services, tourism and the properties sector, would take charge of the full operations of Dalian Aerbin FC. The current staff team would be replaced by a new one with Shi Xueqing as the managing director.

An insider of Dalian Sports Bureau confirmed the deal but did not reveal whether the deal involved stake transfers or not.

Dalian Aerbin FC, as believed, would keep the name after Aerbin Co., Ltd temporarily.

There are rumors that Wanda Group is backing up Yi Fang on the deal as Shi Xueqing, currently a spokesman of Wanda Group and once a manager of Wanda’s football department Dalian Shide FC, would be appointed as managing director at Dalian Aerbin.

Source: Beijing Times