During the late 2010s, it seemed that the Chinese Super League was ready to dominate the football world. The http://1xbet.com/en website is the best place in the entire internet that people can use to wager on this competition.
Back in that period, Guangzhou Evergrande (now called Guangzhou F.C.) was the most powerful team in that nation. The squad made some high profile signings with eye-watering contracts and salaries for some of its best players and staff. Some of the most important names they signed during this period were:
- Paulinho;
- Lucas Barrios;
- Marcello Lippi;
- and Luiz Felipe Scolari.
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Huge financial problems
Now let’s take a look at the former name of the team: Guangzhou Evergrande. Evergrande is the name of a huge Chinese conglomerate that mostly focuses on real estate. While waiting for other matches of the Chinese Super League, visit 1xbet.com/en/casino – play online casino live and win huge rewards.
Of course, here we will not talk about real estate. It suffices to say that the company, which by the way was one of the biggest in the world in terms of revenue, almost collapsed. It can be stated that this almost brought the entire Chinese economy down with it. However, in what particularly matters in this article, this corporation also owned Guangzhou Evergrande. That’s the reason why the team had this name in the first place. If you like a great live online casino to play, visit the one on 1xBet, which has excellent forms of entertainment that anybody can try.
A giant falls
Because of the huge problems suffered by the Evergrande conglomerate, the football team was also deeply affected. From 2020 onwards it was not possible for it to keep the high-profile footballers they had before simply because they were unable to afford them. You can make live sport bet on 1xBet on other teams that play in the entertaining Chinese Super League and other competitions.
The club also had significant debt and even needed to cancel the plans for a brand new stadium that was already being built. Finally, the reign of Guangzhou F.C., the former multi-champion Guangzhou Evergrande, ended in 2022. In that year they were relegated from the Chinese Super League. From 2023 onwards, they would play in the Chinese League One, which is the second level in the country. Try and make a live sports bet on 1xBet, which has matches from the League One as well.