Chinese press reports indicate that the current coach and former Italian player Fabio Cannavaro has terminated his contract with the Guangzhou Evergrande team.
Chinese press reports indicated today, Thursday, that Italian coach Fabio Cannavaro has reached an agreement with his club, Guangzhou Evergrande, to terminate his contract.
According to the Chinese “Sohu” news portal, Cannavaro, 48, was scheduled to travel today to Canton, where the club is located, but canceled his trip after the termination of his contract by “agreement between the two parties.”
The club that has dominated the Chinese Super League in the last decade has not published any statement in this regard.
According to the news site, the financial crisis experienced by the giant Chinese real estate company “Evergrande”, the main shareholder in the club, and the need to reduce expenses, is the main reason behind the termination of Cannavaro’s contract.
This is the end of the former Real Madrid player’s second term at the helm of the technical management of Guangzhou, with whom he won the league title in December 2019.
Cannavaro’s first period with Guangzhou was in 2014, when he succeeded his former coach in the Italian national team, Marcello Lippi, and held the position for about 7 months, then was replaced by Brazilian Luis Felipe Scolari.