Shanghai Shenhua Nears Resolution

By Community | October 19, 2012

Shanghai Shenhua and Chinese Super League officials have said that the team will play its game on Saturday against Changchun Yatai as scheduled following a one-day pay-related training protest.

A complicated disagreement over the clubs ownership is also reportedly close to being resolved with Zhu Jun, the club’s major investor, to officially take control.

Zhu reportedly sent an ultimatum to the club’s five other part-owners, all from state-owned enterprises last week, demanding the large stake transfer that he had been promised, otherwise he would stop paying wages and bonuses.”

Shareholders of the five state-owned enterprises are believed to have agreed to complete the transfer by the end of 2012, which would take Zhu’s stake in the club from 28.5 percent to 75 percent.{jcomments on}