The Chinese Football Association (CFA) yesterday (December 12) officially approved China League One side Tianjin Songjiang FC’s application for a major equity exchange and name change.

According to the CFA, Quanjian Group are set to officially complete full acquisition of Tianjin Songjiang FC and change its name to Tianjin Quanjian FC.

As reported earlier, the Tianjin-based company has actually already completed the equity exchange of the China League one club. The deal will be officially finalised on December 16th, two weeks after its announcement, if no dissenting party comes forward in the meantime.

Quanjin Group was the title sponsor of Chinese Super League side Tianjin Teda FC last season but were involved in a major dispute with Teda FC over the transfer of Chinese international Sun Ke from Jiangsu Guoxin Sainty for a record fee.

Shu Yuhui, President of the Quanjian Group, has set an ambitious goal for the club. His aspiration is to win promotion to China’s top tier football league in the CSL in the 2015/16 season.

Source: Xinhua

Proofread by John Devlin.