Laliga side Real Sociedad is now seeking to minimize negative effects caused by its Chinese sponsor Qbao.com.
According to media reports,on Dec. 28, head of the online financial platform, Zhang Xiaolei surrendered to the police in the City of Nanjing in the investigation of an alleged Fraud committed by the company.
Founded in 2012, Qbao.com has become a sponsor of Real Sociedad since 2014 and has extended their advertising partnership until 2020.
As said in an official Sina Weibo post by the club, the first team of Real Sociedad will not display any Qbao.com logos from the game against CD Leganés on January 7. If the negative news is confirmed, the club will terminate the contract with the Chinese company.
The financial platform is also the title sponsor of the China League Two division club, Chengdu Qianbao Football Club, based in the southwestern Sichuan province.
Proofread by William Logsdon