It has been reported that the Tianjin Football Association has started to run the Chinese Super League side Tianjin Quanjian Football Club on an interim basis and has begun to look for new investors for the club, following the fallout from the huge scandal of the club’s owner, Quanjian Group.
In December 2018, the Tianjin company Quanjian Group (Quanjian Natural Medical Technology Development Co., Ltd.) was exposed as a pyramid selling scam business, selling fake products which were promoted as having medical functions, in addition to selling dangerous and ineffective “fire-treatment” to people across the country. The company’s false pretences have resulted in many cases of damage and tragedies to families and individuals, not only to people’s money but also causing harm to their bodies and lives.
On January 7, the media reported that the Quanjian owner and controllers Shu Yuhui and 17 other suspected criminals have been arrested.
Tianjin Quanjian FC has been temporarily taken over by the Tianjin Football Association to deal with the club’s daily operations. If there are no new investors in the club, the club may face being dissolved.
Quanjian Group has invested heavily in the football club since they bought the club in July 2015. It is estimated their total investment was not less than CNY3bn according to the Chinese media Di Yi Caijing. With the large amount of capital Quanjian Group received from its illegal and harmful businesses, it has helped Tianjin Quanjian Football Club became one of the dark horses in the Chinese Super League after winning promotion to the Chinese Super League after only one season (2016) and finishing 3rd in the 2017 CSL season.
According to Di Yi Caijing, Quanjian Group’s owner, Shu Yuhui, once said to media when he was asked about his plan on player transfers in 2016, “I am worried. I am concerned. I am worried that they don’t like money!”
Quanjian Group also title sponsored the Tianjin Table Tennis Club but the table tennis club has removed Quanjian from its name.
Proofread by Raymond Fitzpatrick