Shenzhen FC will be renamed Shenzhen Kingway after the part
Heineken-owned beer producers from Guangdong province pumped RMB40m
into the debt-ridden club.
At a press conference on Sunday, Shenzhen FC general manager
Meng Qingseng announced that Kingway Beer has signed a contract
worth RMB40m to become the club's new title sponsor. "With
Kingway's investment Shenzhen will solve its financial problems,"
said Meng, who did not confirm whether Kingway will take over the
running of the club.
By selling off key players to CSL opposition, Shenzhen owners
Huizhong Tianheng Group have recouped some of the huge losses
racked up by previous owners Jianlibao Group. But before Kingway's
involvement the club was still some RMB20m in debt despite the
close-season moves of ex-international striker Yang Chen to newly
promoted Xiamen Lanshi, China captain Li Weifeng to Shanghai
Shenhua, and national team goalkeeper Li Leilei to Shandong
Luneng.
Kingway Beer was jointly-established by Guangdong Holding Ltd.
and Heineken. Their injection of fresh cash will effectively see
Shenzhen survive extinction, a fate that Sichuan Guangcheng
recently failed to escape.
Heineken, which owns stakes in a number of Chinese breweries,
has been actively involved in the sponsorship of Chinese sport in
recent years, with investment in events such as the ATP Heineken
Shanghai Open.
(Sinosoc.com February 20,
2006)
