[citation needed] In 1999, Zhu founded online gaming company The9 Ltd,[2] which was successful and listed on the NASDAQ exchange in 2004.
[citation needed] On 21 December 2005, most players on the team went to the headquarters of Zhu Jun's company to request the wages he failed to pay.
Five state-owned enterprises hold the remainder but reportedly agreed to up Zhu's stake to 70% after two years if he invested US$23.6 million.
[citation needed] In August 2007, he even forced the manager to name him in the squad of Shanghai Shenhua for a game against the English club Liverpool F.C.
[6] In the 2011 season, with cash apparently running short, Zhu Jun decided to sell most players in the squad including the top goal scorer Duvier Riascos, Du Wei and Gao Lin, causing the team to free-fall in the league.