Chinese government occupies Evergrande Stadium


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Government agencies have taken over the China Group's soccer stadium. Evergrande to sell the stadium, a person with direct knowledge of the matter told Reuters. As the debt-bearing property developer struggles to pay off the debt

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Evergrande which faces more than $300 billion in debt repayment Considering selling the losing Guangzhou Football Club

Construction of the 12 billion yuan ($1.86 billion) Guangzhou Evergrande football stadium began in April last year and was completed by the end of 2022, when it was expected to be the biggest football venue. in the world by capacity

Evergrande, however, has halted construction due to a lack of funding and gave control to entities that plan to sell the stadium or - in the absence of a buyer - buy it through state-owned Guangzhou City Construction Investment Group. such person said by refusing to be listed as non-public Another person familiar with the matter said construction had been halted for at least three months.
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