The owners of Wuhan Three Towns have expressed their intent to transfer their shares in a complimentary transaction, a move confirmed by the Chinese Super League (CSL) club.

Xu Haoyang of Wuhan Three Towns (right) competes during a 2022 Chinese Football Association Super League match against Wuhan Yangtze in Dalian, Northeast China's Liaoning province, June 15, 2022. (WANG YIJIE / XINHUA)

In a statement released on the Wuhan club's social media account Monday, the owners committed to settling the club's debts to ensure a debt-free status by September 1, at which point they will cease further investment in the team.

The statement further clarified the owners' proposal to transfer their complete stake in the club without any financial considerations, effectively offering it at no cost to potential buyers.

The Wuhan club, celebrated as the CSL champions last season, currently holds the sixth position in the league table, trailing league leaders Shanghai Port by 14 points.

In related news, their former cross-city adversaries, the Wuhan Yangtze River club, dissolved in January following their relegation from the top flight last season.

Related

Go to Forum >>0 Comment(s)