Ghana midfielder Mubarak Wakaso has been rendered clubless after his club Jiangsu FC ceased its operations on Sunday.
The Suning Group, owners of Jiangsu FC and European giants Inter Milan announced it intended to focus on core businesses, leaving non-retail assets at risk.
The announcement said all football clubs owned by the Suning Group, including the hugely successful Jiangsu Suning Women, would "cease operations from today."
The Chinese Super League side run into financial problems last year and started looking for prospective buyers but failed to land a buyer due to its debt portfolio.
The Nanjing based side won the Chinese Super League just three months ago but have failed to settle player wages for November and December 2020, as well as title-winning bonuses due to financial crisis.
This has resulted in the departure of their Romanian coach Cosmin Olaroiu and star player Alex Teixeira.
With its operations seized, Players of Jiangsu Suning can begin talks with other clubs as their contracts would be declared null and void.
The 30-year old joined the CSL side in January 2020 from Spanish outfit Deportivo Alaves.
He made 18 appearances for Jiangsu Suning in his first season with the club in the Chinese Super League.
The former Deportivo Alaves midfielder is currently in the camp of the Black Stars preparing for next month's AFCON qualifiers against South Africa and Sao Tome.