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The Wall Street Journal

China Evergrande’s Different Spending Spree—on Soccer—Is Additionally Operating Into Bother

China Evergrande Group property empire, constructed with billions of {dollars} in borrowed cash, has had a humiliating comedown. The corporate’s soccer empire, which Evergrande used to burnish its model, goes by one, too.

The struggling developer’s skilled group in its hometown of Guangzhou, an eight-time national champion, is struggling by a shedding season and dangers being downgraded from China’s high league. Its marquee undertaking to construct what would have been the world’s largest soccer stadium has been canceled to lift funds for debt aid.

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