Baotou Lucheng FC, a professional football club under China League Two, has decided to liquidate its shares, according to an official Sina Weibo post on Wednesday.
Last season, the club ranked lowest in the North Group of China League Two and suffered its degradation after a 5:4 loss to YBBG FC in the 2nd-leg playoff of the 2017 Chinese football season. Even worse, the Chinese third division team has been in a dispute over delaying player wages and bonuses.
Founded in 1998, the club was established as an amateur football team competing in the regional Baotou leagues. It entered the China Amateur Football League in 2012 and became a professional club in the China League Two in 2015.
In September 2015, the club announced a crowd-funding plan to allow them to stay in Baotou and China League Two by support from the public. According to an official post, the team is eagerly looking for any investors that may be interested.
Proofread by William Logsdon