Guangzhou Evergrande enters liquidation following financial collapse

The Guangzhou Intermediate People's Court has formally opened liquidation proceedings for Guangzhou FC, formerly known as Guangzhou Evergrande. The decision follows a petition filed by Guangzhou Zhonghang Service Management due to the club's prolonged financial instability.

The club, once a dominant force in Chinese football with eight Super League titles and two AFC Champions League trophies, failed to secure a license for the 2025 professional season. This inability to participate stems from a failure to raise sufficient funds to settle outstanding debts.

The financial decline of the club is closely linked to the crisis of its former parent company, the Evergrande Group, which defaulted on massive debts starting in 2021. Creditors have until November 30, 2024, to file their claims, with the first creditors' meeting scheduled for December 8.

During its peak, the club featured high-profile international players such as Robinho, Paulinho, and Darío Conca, and was managed by renowned coaches including Fabio Cannavaro and Luiz Felipe Scolari. The club was relegated from the top division in 2022 before its eventual financial collapse.