Demise of Hui Ka-yan’s China Evergrande Group engulfs sports empire built on its fortunes
The sports empire created by Hui Ka-yan has crumbled, changed hands or struggled to survive alongside the downfall of China Evergrande Group.
On Thursday, the former tycoon and controlling shareholder of Evergrande was sentenced to life imprisonment by the Shenzhen Intermediate People’s Court for multiple offences.
It brought an end to an era for the real estate giant he founded 30 years ago in Guangzhou, sealing a collapse that inevitably engulfed the sports empire built on its fortunes.
Hui...
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