Egypt to host 1st New Development Bank seminar outside founding BRICS nations    Egypt's Al-Sisi, Azerbaijan's Aliyev advocate for ceasefire in Gaza    KOICA, EAPD partner to foster sustainable development in Africa    Egypt's El-Said, Russia's Reshetnikov discuss economic cooperation at SPIEF    BRICS Skate Cup: Skateboarders from Egypt, 22 nations gather in Russia    Egypt gets initial approval for $820m IMF loan disbursement    Fujifilm, Egypt's UPA Sign MoU to Advance Healthcare Training and Technology at Africa Health ExCon    Pharaohs Edge Out Burkina Faso in World Cup qualifiers Thriller    Lagarde's speech following ECB rate cuts    Russian inflation to decline in late '24 – finance minister    US, 13 allies to sign Indo-Pacific economic agreements    Acceleration needed in global energy transition – experts    Sri Lanka grants Starlink preliminary approval for internet services    China-Egypt relationship remains strong, enduring: Chinese ambassador    Egypt, Namibia foster health sector cooperation    Egypt's EDA, Zambia sign collaboration pact    Managing mental health should be about more than mind    Egypt, Africa CDC discuss cooperation in health sector    Madinaty Sports Club hosts successful 4th Qadya MMA Championship    Amwal Al Ghad Awards 2024 announces Entrepreneurs of the Year    Egyptian President asks Madbouly to form new government, outlines priorities    Egypt's President assigns Madbouly to form new government    Egypt and Tanzania discuss water cooperation    Grand Egyptian Museum opening: Madbouly reviews final preparations    Madinaty's inaugural Skydiving event boosts sports tourism appeal    Tunisia's President Saied reshuffles cabinet amidst political tension    Instagram Celebrates African Women in 'Made by Africa, Loved by the World' 2024 Campaign    Egypt to build 58 hospitals by '25    Swiss freeze on Russian assets dwindles to $6.36b in '23    Egyptian public, private sectors off on Apr 25 marking Sinai Liberation    Debt swaps could unlock $100b for climate action    Financial literacy becomes extremely important – EGX official    Euro area annual inflation up to 2.9% – Eurostat    BYD، Brazil's Sigma Lithium JV likely    UNESCO celebrates World Arabic Language Day    Motaz Azaiza mural in Manchester tribute to Palestinian journalists    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Ivory Coast's Drogba can leave Shanghai
Chinese side Shanghai Shenhua could sell Drogba and Anelka
Published in Ahram Online on 28 - 08 - 2012

Former Chelsea strikers Didier Drogba and Nicolas Anelka could be sold by China's Shanghai Shenhua due to an escalating equity stake row among shareholders, local media reported.
Chairman Zhu Jun, who holds a 28.5 percent stake, would only pay his share of the club's daily costs if his demands for greater control were not met, according to the China Daily.
Zhu currently controls the Chinese Super League club along with five state-owned enterprises after becoming a shareholder in 2007.
The agreement was that if he invested $23.6 million over two years, his stake would increase to more than 70 percent, the newspaper reported.
The Oriental Sports Daily reported that Zhu had ploughed more than $94 million into the club in the past five-and-a-half years, while the state-owned companies had spent nothing.
The transfer of shares stalled in 2009 and again last year, a source told the Oriental.
"It is annoying and has had a bad effect on many of our tasks," a club official said. "The biggest problem is that the operation and financing work of the club cannot be carried out normally.
"The equity stakes issue has become the biggest bottleneck for the development of Shenhua."
If unresolved, Zhu, who has been signing all the cheques, could decide to cough up just 28.5 percent of the club's expenditure, potentially affecting player salaries.
Colombian Giovanni Moreno missed the match against Shandong Luneng at the weekend amid speculation Shenhua had fallen short on his transfer fee with Argentina's Racing Club.
The futures of Drogba and Anelka could be in the balance if Shenhua fail to make their salary payments. Both reportedly earn over $300,000 a week.
Despite investing heavily in big-name foreign players, Shenhua sit 10th in the 16-team Chinese Super League on 27 points from 23 matches. Leaders Guangzhou Evergrande are on 47 points.
(For more sports news and updates, follow Ahram Online Sports on Twitter at@AO Sports and on Facebook atAhramOnlineSports)


Clic here to read the story from its source.