Chinese Super League champions Jiangsu FC – who’ve the identical homeowners as Inter Milan – have “ceased operations”, the membership stated on Sunday.
Owners Suning stated they have been closing down the membership to concentrate on their core retail enterprise within the nation.
Jiangsu gained their first league title in November 2020.
Former England boss Fabio Capello was their supervisor between 2017 and 2018 and Gareth Bale was near signing for them from Real Madrid in 2019.
BBC Sport has been informed by a Suning supply there might be no affect on Inter, who’re high of Serie A, however it’s understood the membership has been on the lookout for exterior funding for numerous months.
“Even though we are reluctant to part with the players who have won us the highest honours, and fans who have shared solidarity with the club, we have to regretfully make an announcement,” Jiangsu FC stated in an announcement.
“From today, Jiangsu Football Club ceases the operation of its teams.
“In the previous six months the membership has been trying round to hunt a takeover.”
Suning chairman Zhang Jindong, speaking earlier in February, said: “We will concentrate on retail enterprise resolutely and with out hesitation will shut and reduce down our enterprise irrelevant to retail.”
Impact on Inter?
Analysis by BBC Sport’s Simon Stone
The Chinese government is apparently scaling down commitment to Chinese football and is reducing sponsorship and TV rights as the costs have been huge and interest remains flaky.
The European situation is evidently different. However, Inter’s owners have been looking for external investment, so far without success, as their wage bill is huge.
Suning have been additionally on the centre of the cancelled £564m contract to display screen the Premier League in China to 2022, which has had a significant financial impact on England’s top-flight clubs.
The uncertainty around Suning will create a general nervousness in Europe, where there are other examples of Chinese investment in European football slowing, West Bromwich Albion an example of that. Even Wolves’ owners Fosun, whilst still spending, have pulled back on some massive capital costs around the development of Molineux, which they had wished to expand to a 40,000 capacity.
Inter are a bigger club of course, and as they stand on the brink of their first title since 2010, their fans will hope the assurances around their future prove accurate.