Chinese Super League champion Jiangsu FC announced Sunday it would “cease operations” with immediate effect, just three months after winning its first title.
Nanjing-based Jiangsu, which is owned by retail giant Suning that also holds a majority stake in Italian league leader Inter Milan, said on social media that it hoped that a new backer could be found after the company pulled out.
“Even though we are reluctant to part with the players who have won us the highest honors, and fans who have shared solidarity with the club, we have to regretfully make an announcement,” a Jiangsu FC statement said. “From today, Jiangsu Football Club ceases the operation of its teams.”
Suning, which was formally known as Jiangsu Suning before changing names to meet new Chinese Football Association regulations, had reportedly tried for six months to sell Jiangsu, which has debts estimated to be around $90 million. Also folding are Jiangsu’s successful women’s team and various youth teams.
Xinhua, the state news agency, reported the club owed players wages and title-winning bonuses and that the club's coach Cosmin Olaroiu and Brazilian star player Alex Teixeira had already left.
Earlier this month, Suning owner Zhang Jindong said the group would cut back on non-retail activities after a difficult year in which revenues had been hit by COVID-19.
“We will focus on retail business and close and cut down our businesses that are not connected to businesses,” he said.
There have been reports in Italy that Suning, which bought a majority stake in Inter in 2016, is looking to sell the Milan club.
Jiangsu will be the second Chinese team to withdraw from the Asian Champions League that kicks off in April. Shandong Luneng was kicked out of the competition for breaching rules regarding outstanding salary payments.
There are concerns that Jiangsu may soon be followed by Tianjin Tigers. Club owner Teda has cut investment in the team it has owned since 1998 after the Chinese Football Association ruled this year that all team names must be free from corporate titles. Last year, the city’s other club, Tianjin Tianhai, went bankrupt.
Chinese soccer became one of the biggest-spending leagues in the world over the past decade. Star players including Hulk, Oscar and Paulinho arrived in the country along with World Cup winning coaches Marcello Lippi and Luiz Felipe-Scolari.
In a bid to cut costs, a new salary cap has been imposed for the 2021 season that will limit club expenditures to $90 million a year.
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The FA Cup delivered another fairytale result on Saturday when sixth-tier Macclesfield — managed by Wayne Rooney's brother — knocked out titleholder Crystal Palace in one of the competition's greatest upsets.
The teams were separated by 117 places in the English soccer pyramid but Macclesfield won 2-1 which, given the difference in league positions, goes down as the most unlikely result in the FA Cup's 155-year history.
At the other extreme, Manchester City overwhelmed third-tier Exeter 10-1 in a match featuring a goal on debut by $87 million signing Antoine Semenyo.
City tying the record for its biggest ever win wasn't the story of the day in the third round, though.
That belonged to Macclesfield, a tiny club from England's north west that was relaunched after its predecessor, Macclesfield Town, was liquidated in 2020 because of debts.
The team, placed 14th in National League North, is still coming to terms with the loss of its 21-year-old forward Ethan McLeod, who was killed in a car crash travelling back from a match he played in at Bedford Town on Dec. 16. A banner bearing his name hung behind the dugouts at the Palace game and his family were in the stands to watch.
It made for an emotionally draining afternoon for John Rooney, the younger sibling of England and Manchester United great Wayne Rooney, who was at the match working for the BBC.
“We finished the game and then I walk in the office and see Ethan’s mum and dad in there, that’s very special to me,” John Rooney said. “Just knowing they were here with us, and I’m sure Ethan was looking down on us today.”
Macclesfield took the lead just before halftime through captain Paul Dawson, before Isaac Buckley-Ricketts made it 2-0 in the 60th following a scramble in the penalty area.
Yeremy Pino’s last-minute free kick for Palace left Macclesfield facing a nervous six minutes of stoppage time as home fans chanted “Silkmen! Silkmen!” — the club’s nickname.
Macclesfield survived, their players adding their names to the competition's lore.
Fans sprinted onto the field at Moss Rose — Macclesfield's modest 5,900-capacity stadium — in celebration at the final whistle while Dawson and Duffy were carried aloft.
“I didn’t think it was possible but there is that little bit of hope that anything can happen on the day,” said Rooney, who started and ended his playing career as a midfielder with the club and is in only his first season coaching.
“I can’t believe it. We were incredible from the first minute."
The last time Palace played in the FA Cup, it beat City in the final for its first ever trophy.
Palace's dismal afternoon was summed up when U.S. defender Chris Richards did a foul throw in the final minute of stoppage time.
“I have no words for this performance,” Palace manager Oliver Glasner said.
Palace captain Marc Guéhi spoke with the team’s traveling fans after the defeat.
Semenyo was handed a start by City manager Pep Guardiola a day after joining from Bournemouth and was among nine scorers for City. Right back Rico Lewis netted twice.
In a classy gesture, Semenyo thanked Bournemouth fans “for all the memories” in a full-page advertisement printed in the local Bournemouth Echo newspaper before the game.
“He is a humble guy,” City assistant manager Pep Lijnders, who was directing affairs in the technical area as Guardiola served a one-match touchline ban, said of Semenyo. "He brings something to the front line that we really want and we need.
“He can attack quick, he wants to chase, he is a guy who doesn’t stop."
Semenyo's former club lost at Newcastle 7-6 on penalties following a 3-3 draw in an all-Premier League contest at St. James' Park.
Anthony Gordon equalized for Newcastle with a penalty deep into stoppage time. Harvey Barnes grabbed his second goal for Newcastle two minutes before the end of extra time, only for Marcus Tavernier to level for Bournemouth with seconds remaining to take the game to penalties.
In the shootout, Newcastle goalkeeper Aaron Ramsdale saved from Bafodé Diakité in what proved to be the final kick.
Chelsea marked new coach Liam Rosenior’s first match in charge by beating second-tier Charlton Athletic 5-1.
Defender Jorrel Hato and Tosin Adarabioyo scored either side of halftime for a heavily rotated Chelsea before Marc Guiu and substitutes Pedro Neto and Enzo Fernandez added more goals.
Rosenior was hired on Tuesday on a six-year deal as the replacement for Enzo Maresca and joined from Strasbourg, which is part of the same ownership group as Chelsea.
Tottenham completed a miserable week by losing to Aston Villa 2-1.
On Wednesday, Spurs conceded in stoppage time to lose at Bournemouth in the Premier League and some of its disgruntled fans were involved in a row with players, including Micky van de Ven. Cristian Romero also let rip at the club on social media.
Emi Buendia and Morgan Rogers scored for Villa in the first half and Wilson Odobert replied for Tottenham.
In another all-Premier League matchup, Sunderland beat Everton on penalties after the match finished 1-1 following extra time.
Premier League sides Brentford, Fulham, Burnley and Wolverhampton all beat lower-level opposition.
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Chelsea's Tosin Adarabioyo celebrates scoring his team's second goal of the game during the English FA Cup third round soccer match between Charlton Athletic and Chelsea in London, Saturday Jan. 10, 2026. (John Walton/PA via AP)
Macclesfield Town's Josh Kay celebrates with fans following the FA Cup third round soccer match between Macclesfield Town and Crystal Palace, at the Leasing.com Stadium, Macclesfield, England, Saturday, Jan. 10, 2026. (Martin Rickett/PA via AP)
Aston Villa's Morgan Rogers, second left, and Tottenham Hotspur's Joao Palhinha, right, clash after the FA Cup third round soccer match between Tottenham Hotspur and Aston Villa in London, Saturday Jan. 10, 2026. (Andrew Matthews/PA via AP)
Manchester City's Jeremy Doku substitutes Antoine Semenyo during the FA Cup third round match between Manchetster City and Exeter City in Manchester, England Saturday, Jan. 10, 2026. (AP Photo/Ian Hodgson)
Macclesfield Town's Isaac Buckley-Ricketts celebrates scoring his side's second goal with teammates, during the FA Cup third round soccer match between Macclesfield Town and Crystal Palace, at the Leasing.com Stadium, Macclesfield, England, Saturday, Jan. 10, 2026. (Martin Rickett/PA via AP)
Macclesfield FC goalscorers Paul Dawson, right and Isaac Buckley-Ricketts celebrate following the FA Cup third round soccer match between Macclesfield Town and Crystal Palace, at the Leasing.com Stadium, Macclesfield, England, Saturday, Jan. 10, 2026. (Martin Rickett/PA via AP)
Macclesfield Town's Isaac Buckley-Ricketts, right, celebrates scoring his side's second goal, during the FA Cup third round soccer match between Macclesfield Town and Crystal Palace, at the Leasing.com Stadium, Macclesfield, England, Saturday, Jan. 10, 2026. (Martin Rickett/PA via AP)
Macclesfield Town's Paul Dawson scores the opening goal, during the FA Cup third round soccer match between Macclesfield Town and Crystal Palace, at the Leasing.com Stadium, Macclesfield, England, Saturday, Jan. 10, 2026. (Martin Rickett/PA via AP)
Macclesfield Town's Isaac Buckley-Ricketts celebrates scoring his side's second goal, during the FA Cup third round soccer match between Macclesfield Town and Crystal Palace, at the Leasing.com Stadium, Macclesfield, England, Saturday, Jan. 10, 2026. (Martin Rickett/PA via AP)
Macclesfield Town's Josh Kay celebrates with fans following the FA Cup third round soccer match between Macclesfield Town and Crystal Palace, at the Leasing.com Stadium, Macclesfield, England, Saturday, Jan. 10, 2026. (Martin Rickett/PA via AP)
Macclesfield Town's Isaac Buckley-Ricketts scores his side's second goal during the FA Cup third round soccer match between Macclesfield Town and Crystal Palace, at the Leasing.com Stadium, Macclesfield, England, Saturday, Jan. 10, 2026. (Martin Rickett/PA via AP)
Crystal Palace's Yeremi Pino and Macclesfield Town's Rollin Menayese vie for the ball, during the FA Cup third round soccer match between Macclesfield Town and Crystal Palace, at the Leasing.com Stadium, Macclesfield, England, Saturday, Jan. 10, 2026. (Martin Rickett/PA via AP)
Crystal Palace's Kaden Rodney, center right, and Macclesfield Town's Paul Dawson vie for the ball, during the FA Cup third round soccer match between Macclesfield Town and Crystal Palace, at the Leasing.com Stadium, Macclesfield, Saturday, Jan. 10, 2026. (Martin Rickett/PA via AP)
