The recent withdrawal of Fan Zhendong from the international rankings has sparked interest in the International Table Tennis Federation (ITTF) and the World Table Tennis Corporation (WTT). Liu Guoliang, the head of the national table tennis team, holds three positions: chairman of the Chinese Table Tennis Association, executive vice-chairman of the ITTF, and chairman of the WTT board. Recently, media outlets have been digging into some doubts surrounding these roles, providing some insights.
Shanghai Television's "Look News" program raised several questions: for example, how can the ITTF ensure the depth and objectivity of its investigation into WTT when they are essentially the same entity? Additionally, the ITTF originally held a 100% stake in WTT, which later became 85%; where did the remaining 15% go? Why hasn't WTT's 2023 financial report been made public yet? Tencent Sports' "Hoson Observation" column wrote an in-depth article that provides some answers.
The article clarifies that WTT is a company dedicated to operating the ITTF's tour events, and there is no doubt that they are one and the same. Some netizens even discovered that the official accounts of the ITTF and WTT may be operated by the same person or company, so the ITTF's so-called investigation into WTT is akin to investigating itself, which would yield no results.
However, the ITTF's original 100% stake in WTT became 85% after 2022; where did the remaining 15% go? The article answers this question. A meeting record of the ITTF shows that the 15% stake was transferred to a company called "Word Sports," whose legal representative is Lei Zhenjian. He also attended the meeting as a shareholder of WTT, and this person is likely to be Lei Zhenjian, the former CEO of LeSports.
Lei Zhenjian was once famous for creating LeSports, which at its peak rivaled CCTV in influence. However, following the collapse of LeEco's capital chain, LeSports had to disband, and Lei Zhenjian disappeared from the public eye. From this article, it appears that Lei Zhenjian has partnered with Liu Guoliang to become a senior executive at WTT. News reports show that Lei Zhenjian attended the event where ATT Asian Table Tennis Company's China headquarters settled in Chengdu as a director of WTT and chairman of the Chinese company.
The meeting records of WTT frequently mention the good relationship between Lei Zhenjian and Liu Guoliang. Moreover, according to Tianyancha, Lei Zhenjian once co-founded Beijing Track Restaurant Management Co., Ltd. with Liu Guoliang, Ma Lin, and others, indicating that Lei Zhenjian is a business partner of Liu Guoliang.
Furthermore, the article points out issues in the ITTF's audit report, which does not disclose Liu Guoliang's salary as vice-chairman but shows that ITTF chairwoman Ms. Sorensen earns 150,300annually.Herpredecessor,Viktor,earned30,500 in 2021, meaning Sorensen's salary is nearly five times that of her predecessor, an increase of RMB 800,000. Interestingly, Sorensen worked with Liu Guoliang to force Viktor out of office on allegations of corruption, leading to speculation that Sorensen might be aiming for high pay to maintain integrity?
From the entire article, only some problems are seen from the audit report and financial statements, without forming a complete conclusion. It can only be some speculative situations, allowing readers to judge for themselves.
Several key points include the ITTF transferring 15% of WTT shares to Liu Guoliang's partner, Lei Zhenjian, the former CEO of LeSports. Lei Zhenjian is also considered a top figure in China's sports industry, with extensive experience. In the past, LeSports was heavily involved in the sports industry, once spending 2.7 billion yuan to acquire the Super League broadcasting rights. Therefore, it makes sense that as the chairman of WTT, Liu Guoliang handed over part of the shares to Lei Zhenjian to operate the Chinese company. Of course, whether there is any interest transfer between them and WTT is unknown, and the article suggests "maybe not."
Another point is Sorensen's salary, which has increased significantly compared to her predecessor, described as skyrocketing. What is the reason for this surge? It is currently unclear. Moreover, Liu Guoliang's salary at the ITTF has not been disclosed. It is certain that Liu Guoliang holds three positions, earning a salary as executive vice-chairman at the ITTF, as chairman of the WTT board, and as chairman of the Chinese Table Tennis Association. These are his salaries as an employee, but how much he earns from the dividends of the companies he controls remains a mystery.
In fact, there have been many online criticisms about Liu Guoliang holding three positions, especially during the controversy caused by Fan Zhendong's withdrawal from the international rankings. Whose interests does he represent? There has always been controversy. Fan Zhendong was forced to withdraw due to WTT regulations, while Liu Guoliang is the leader of WTT and also the head of the national table tennis team. When these interests conflict, which side should Liu Guoliang stand on? If it weren't for the loud public opinion caused by Fan Zhendong and Chen Meng's withdrawal declarations, with various media getting involved, people probably wouldn't have paid attention to these issues, let alone the inside story of the ITTF and WTT. Now, everything seems poised to be revealed.