Liu Yongzhuo, Executive Vice President of Evergrande Group, President of Evergrande New Energy Automobile Group, Chairman of Evergrande New Energy Technology Group, and President of Vehicle Research Institute, was once the chairman and general manager of Guangzhou Evergrande Football Club, and was known as "China's No. 1 Football Manager". His status and influence in Evergrande Group are self-evident, and he is Xu Jiayin's cronies and right-hand man.
However, on January 8, 2024, Liu Yongzhuo was taken away by ** and was suspected of violating the law and committing crimes. This news shocked the Chinese football world and also sparked speculation and discussion from all sides. What did Liu Yongzhuo do and why was he detained?What impact will his detention have on Evergrande Group and Evergrande Football?
According to the ** report, Liu Yongzhuo's detention is mainly due to two aspects: one is related to the crisis of Evergrande Group, and the other is related to the anti-crime and anti-gambling in Chinese football.
The crisis of Evergrande Group is an open secret. Since the beginning of 2020, Evergrande Group has fallen into a serious debt crisis, facing multiple difficulties such as broken capital chains, debt defaults, declining credit, and stock prices. Evergrande's core businesses, real estate and finance, have been subject to strict regulation and restrictions, resulting in a sharp drop in revenue and huge pressure to repay debts. The senior management of Evergrande Group also had frequent accidents, Xu Jiayin was coercively measured, Ke Peng was investigated, and Liu Yongzhuo was also involved.
It is reported that Liu Yongzhuo briefly served as the legal representative of Evergrande Financial Services (now renamed Evergrande Wealth), and was also in charge of this kind of business as the vice president of the group. Evergrande Financial Services is an important financial platform of Evergrande Group, involving a large number of wealth management products, bond issuance, trust plans, etc., and is also the hardest hit area of Evergrande Group's crisis. Liu Yongzhuo's role and responsibilities in Evergrande Financial may be an important reason for his detention.
Another reason is related to the anti-crime and anti-gambling in Chinese football. Since 2019, the Chinese Football Association has launched a special football governance action to crack down on underworld forces and gambling in the football field, and maintain the fairness and integrity of football. In this operation, a number of football figures have been investigated and punished, including former internationals, coaches, referees, club executives, etc. Liu Yongzhuo, as the core figure of Evergrande football, is also difficult to stay out of the matter. According to reports, Liu Yongzhuo is suspected of serious dereliction of duty in Evergrande football's recruitment, stadium renovation, internal management, etc., and Liu Yongzhuo's detention may be an important part of the anti-crime and anti-gambling in Chinese football.
Liu Yongzhuo's detention, what impact will it have on Evergrande Group and Evergrande Football Club?Judging from the current situation, the crisis of Evergrande Group has become irreversible, and Liu Yongzhuo's detention is only the tip of the iceberg of the top management of Evergrande Group. The impact of Evergrande football should not be underestimated, and Liu Yongzhuo's detention may beFurtherAs a result, Evergrande Football's management is chaotic, it is difficult to recruit players, and players are turbulent, and the performance and status of Evergrande Football will also be seriously challenged. The collapse of the Evergrande dynasty is inevitable.