Fears for Yifang as Wanda cuts funding

Dalian Yifang's future is in serious doubt after Wanda Group announced it is pulling the plug on its investment in the Chinese Super League club in favor of building its own team.

Speculation has been rife in recent weeks that Wanda was about to halt its funding of Yifang and the wider soccer scene in Dalian, Liaoning province.

On Wednesday, the multinational property giant, which has never owned any shares in the club, issued a statement to clarify its position.