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Chinese Super League side Tianjin Tianhai are available for absolutely nothing after the Tianjin Football Association took over the running of the club last year.
Tianjin, formerly known as Tianjin Quanjian, ran into financial problems in January 2019 and had to change their name because of a crisis with former owners The Quanjian Group, who were part of a national scandal.
Since then the local football association have been running the club but are looking for a suitable new owner who would have to take over the debts of the club, though they want no money to purchase the side.
In an official statement the club said, "The club have reached a critical moment and in order to maintain the hard-fought position in the Chinese Super League, have, after careful considerations, made a difficult decision.
"We will transfer 100% of the club with zero fee."
There have been rumours that the club would get kicked out of the CSL for the new season but they were denied by coach Li Weifeng on Wednesday. "Such rumours are very irresponsible and disrespectful to the players who tried so hard last season," Weifeng said, "The club is facing some problems, but they can be solved.
"And some are questioning why we did not sign new players. There's no rule that a team must sign somebody during a transfer window.
"Every team has its own troubles, that's normal. That doesn't mean the club has no future."
Whilst the coach says there is no issue with them signing no players in pre season it does also come as they saw 13 players leave since the end of the 2019 season.
The club are said to be in around £112.3 million and any new owner would have to be able to relieve the club of the debt, although the exact amount is apparently negotiable.
There is £77.4 million worth of assets involved in the club but any new buyer would first have to make sure the club, previously managed by Fabio Cannavaro and Paolo Sosa, managed to avoid relegation this season.
The start of the campaign has been delayed because of Coronavirus and there is currently no date for when it might start.
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