China Evergrande soccer stadium taken over by government -source
Adds soccer school's liabilities
HONG KONG/BEIJING, Nov 26 (Reuters) - A government body has taken over China Evergrande Group's 3333.HK soccer stadium with a view to selling it, a person with direct knowledge of the matter told Reuters, as the debt-laden property developer scrambles to meet liabilities.
Evergrande, which has been struggling to meet repayments on over $300 billion in debt, is also considering selling money-losing Guangzhou Football Club, the person said.
Construction on the 12 billion yuan ($1.86 billion) Guangzhou Evergrande Football Stadium began in April last year for completion by the end of 2022, when it was set to be the world's largest soccer venue by capacity.
However, Evergrande has halted construction due to lack of capital and ceded control to authorities which plan to sell the stadium, or - in the absence of buyers - acquire it via state-owned Guangzhou City Construction Investment Group, the person said, declining to be identified as the matter is not public.
Another person familiar with the matter said construction had stopped for at least three months.
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