Reuters reported that a government body has taken over China Evergrande Group's soccer stadium with a view to selling it. Evergrande has halted construction due to lack of capital and ceded control to authorities which plan to sell the stadium, or - in the absence of buyers - acquire it via state-owned Guangzhou City Construction Investment GroupConstruction on the 12 billion yuan Guangzhou Evergrande Football Stadium began in April last year for completion by the end of 2022, when it was set to be the world's largest soccer venue by capacity.Evergrande, which has been struggling to meet repayments on over USD 300 billion in debt, is also considering selling money-losing Guangzhou Football Club
Reuters reported that a government body has taken over China Evergrande Group's soccer stadium with a view to selling it. Evergrande has halted construction due to lack of capital and ceded control to authorities which plan to sell the stadium, or - in the absence of buyers - acquire it via state-owned Guangzhou City Construction Investment GroupConstruction on the 12 billion yuan Guangzhou Evergrande Football Stadium began in April last year for completion by the end of 2022, when it was set to be the world's largest soccer venue by capacity.Evergrande, which has been struggling to meet repayments on over USD 300 billion in debt, is also considering selling money-losing Guangzhou Football Club
