Cannavaro Leaves Guangzhou FC Amid Evergrande Uncertainty
Muhammad Rameez Published September 28, 2021 | 05:38 PM
Italian football legend Fabio Cannavaro is stepping down as manager of Chinese giants Guangzhou FC, the club announced Tuesday, as it faces an uncertain future with its owner Evergrande Group on the brink of collapse
Shanghai, Sept 28 (APP - UrduPoint / Pakistan Point News - 28th Sep, 2021 ) :Italian football legend Fabio Cannavaro is stepping down as manager of Chinese giants Guangzhou FC, the club announced Tuesday, as it faces an uncertain future with its owner Evergrande Group on the brink of collapse.
Cannavaro's departure had already been widely rumoured after he failed to guide Guangzhou FC to a ninth Chinese Super League (CSL) crown last season.
But the troubles at Evergrande Group, whose potential demise has shaken world financial markets, may well have forced the issue with questions now swirling around the fate of the team.
A statement on the club's Weibo account said that "after friendly negotiations, Guangzhou Evergrande has decided to terminate Fabio Cannavaro's contract".
"We whole-heartedly thank Fabio Cannavaro for his huge efforts and positive contribution to the club, and wish him all the best for the future!" the statement added.
The writing was already on the wall for the 48-year-old Cannavaro.
He had returned to Guangzhou in 2017 for a second stint, after being dismissed following a failed spell at the club in 2014-15.
But last season ended without silverware.
Soon after, the club said it was changing its management structure in a way that appeared to leave Cannavaro with little power.
Uncertainty at the most successful club in recent CSL history adds to turmoil in Chinese football and shines a further spotlight on the precarious finances undergirding the sport in the country.
Guangzhou FC's fate remains unclear. Unconfirmed reports have circulated saying that discussions are under way that could see a government entity and state-owned company taking it over.
Recent Stories
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 26 April 2024
Today Gold Rate in Pakistan 26 April 2024
ICC Womens T20 World Cup Qualifier, Match 2: Ireland Women open with Comfortable ..
Robinson, bowlers help New Zealand go 2-1 up against Pakistan
Shahzeb Chachar to hold khuli kachehri on April 26
Heatwave amid Israel's aggression in Gaza brings new misery, disease risk
Tourism must change, mayor says as Venice launches entry fee
Court adjourns Judicial Complex attack case till May 17
Nasreen Noori’s book ‘Popatan Jahra Khwab’ launched
Wafaqi Mohtasib inspection team visits Excise and taxation office
AJLAC announces 5th Conference titled ‘People’s Mandate: Safeguarding Civil ..
Pak-US officials engage to enhance trade, investment ties
More Stories From Sports
-
Victor Boniface: Leverkusen boss Alonso makes you 'up your game'
19 minutes ago -
ICC Womens T20 World Cup Qualifier, Match 2: Ireland Women open with Comfortable victory over UAE
4 hours ago -
Robinson, bowlers help New Zealand go 2-1 up against Pakistan
10 hours ago -
National Hockey camp to be organized for Azlan Shah tournament
11 hours ago -
Islamabad Tennis Club demolished by CDA amid anti-encroachment action at public park: Tarar
13 hours ago -
Shayan, Rashid, Junaid to represent Pakistan in U12 Regional Qualifying Jrs
14 hours ago
-
Olympic Games Paris 2024: How teams qualified
14 hours ago -
ICC T20 World Cup 2024 trophy unveiled in Islamabad
13 hours ago -
Pakistan to tour New Zealand for 3 ODIs, 5 T20Is next March
14 hours ago -
Xavi and Barca remain tied in marriage of convenience
13 hours ago -
Pakistan Master Tenpin Bowling C'ship postponed
13 hours ago -
Tennis: ATP/WTA Madrid Open results
13 hours ago