The Chinese Football Association Division Two League (C2L) team Baoding Yingli ETS Football Club made an official announcement today (January 2) regarding the ending of their title sponsor Rongda Group and the search for new sponsors/investors.
The official announcement revealed that Rongda Group had sent a notice to the club at the beginning of the 2018 season to finish their sponsorship. As the club did not manage to find any new sponsors or investor to buy the club, Rongda Group continued their sponsorship until the end of the 2018 season.
The announcement confirms that the current sponsorship has fully ended. While being very appreciative of Rongda Group’s contributions, the club are now seeking new sponsors or will sell an entire stake in the club with no conditions.
In an earlier announcement made by the club on December 4, 2018, the club offered to sell part of their stakes as the sponsorship with Rongda Group was going to come to an end.
The 2018 C2L season started on March 31, 2018 and finished on November 4, 2018. Baoding Yingli ETS Football Club plays in the north division of the league and ranked 15th in the 2018 season. It is the 4th season for the team and their third in C2L. Rongda Group were their sole sponsors for all four years.
Reference: Guangming Wang
Proofread by Raymond Fitzpatrick