China’s ‘Prince of Gymnastics’ Takes Tumble After Beijing Olympics

China’s most celebrated gymnast seemed to reach a peak of success when he flew across the Bird’s Nest Stadium to light the Olympic torch in the opening ceremony for the Beijing Olympics in August 2008. A little over two years later the business affairs of Li Ning, the man known to everyone in China as the “prince of gymnastics,” were in shambles.

Chinese gymnast Li Ning lights the Olympic Flame during the Opening Ceremony for the 2008 Beijing Summer Olympics at the National Stadium on Aug. 8, 2008 in Beijing, China. Julian Finney/Getty Images