FA chief warns football clubs to stop ‘burning money’. FMTNews ChineseSuperLeague ChineseFootballAssociation
HONG KONG: Chinese football authorities have announced major curbs on spending by clubs ahead of the 2020 season that include a cap on foreign and domestic players’ salaries as they seek to stave off financial ruin.
“Our clubs had too much money burned and our professional football has not been run in a sustainable way,” Chinese Football Association chairman Chen Xuyuan said, according to state news agency Xinhua.The new rules were confirmed after a meeting of the Chinese Football Association on Wednesday and do not extend to bonuses that can be paid, which could give clubs some flexibility to pursue star signings.
Officials have routinely sought to curb excessive spending in the Chinese Super League after a major outlay on foreign stars ahead of the 2017 season saw the arrival of players such as Brazilian star Oscar and Carlos Tevez from Argentina on huge salaries. Money has poured into Chinese football from the country’s private sector since Xi Jinping, a football fan who has declared his desire to improve the nation’s standing within the game, became president in 2013.
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