(Reuters) – Former Chinese Super League (CSL) club Wuhan Yangtze River have ceased operations in the wake of their relegation from the top flight at the end of last season after a points deduction for non-payment of wages.
The club, founded in 2009 and previously known as Wuhan Zall and Hubei Luyin, were the fourth CSL team to fold in the last four seasons after Tianjin Tianhai, Jiangsu FC and Chongqing Liangjiang Athletic.
The owners, who said they had invested more than 3 billion yuan ($442.31 million) in the club over 11 seasons, said in a statement that they would settle the remaining debts to players and coaches.
Wuhan Yangtze River finished third bottom of the CSL at the end of the season last December after having a total of nine points deducted in November as punishment for unpaid salaries.
(Reporting by Nick Mulvenney, editing by Editing by Peter Rutherford)
