Zou Shiming’s Olympic boxing legacy overshadowed by shocking 200 million yuan debt
The 45-year-old and his wife shared how they invested heavily in high-end gyms, including an 18,000 sq m venue, on a reality television show
Athletes struggling with life after sport is nothing new, but China’s former Olympic boxing champion Zou Shiming has still caused a commotion on mainland social media after revealing he had racked up some 200 million yuan (US$29. 5 million) in debt over seven years.
The 45-year-old’s most significant business venture after leaving the sport was a high-end gym in Shanghai, that featured US$29,000 treadmills and a 3 million yuan chandelier.
Appearing on Her Prime 2, a reality television show on the mainland, the former double light-flyweight gold medallist, and his wife Ran Yingying, acknowledged the shocking extent of their household financial difficulties for the first time.
Ran revealed on the show that they had gone to the civil affairs bureau three times on the verge of divorce, and had already sold properties in Beijing and other regions to repay the debts from Zou’s failed businesses.
To cut expenses, Ran said she slashed their household water bill from 800 yuan to under 100 yuan, and regularly hosted live-stream sales until 2 or 3am to maintain the family’s cash flow.
Ran said the couple had to sell multiple properties to settle the debt.