as football spending tops 1bn
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

China in 'bubble' warning

As football spending tops $1bn

Arab Today, arab today

Arab Today, arab today As football spending tops $1bn

Chelsea's midfielder Oscar (L)
Beijing - Arab Today

 China's state media warned a "bubble" had developed in Chinese football on Friday after spending topped $1 billion this year and rumours swirled of yet more big-money signings.

Chelsea's Oscar and Argentine forward Carlos Tevez were the latest players linked with the deep-pocketed Chinese Super League this week as clubs look set to extend their lavish spree.

The influential People's Daily urged clubs to control their "headstrong" spending, which follows official decrees that China should become a global football superpower.

While there is "no reason to restrict capital" in the Super League, clubs must have focus and discipline on spending for the sake of their own long-term health, an article in the Communist Party mouthpiece said. 

It said 8 billion yuan ($1.15 bn) had been spent in 2016, a sum which "far exceeded the economic value brought to the league". The explosive growth in football investments is a "bubble" given the slower growth in ticket and licensed product sales, the article added.

Chinese firms have spent freely this year on foreign football clubs, players, and broadcasting rights in an effort to diversify their businesses and aid Chinese President Xi Jinping's dream of making China into a global centre of gravity for the sport.

Xi is a known football fan and in 2011 -- when he was still vice-president -- he laid out three hopes for China's soccer future: to qualify for another World Cup, to host a World Cup and to win a World Cup. 

Chinese Super League clubs smashed the Asian record four times in the January-February window, and they have spent more than $400 million on players overall this year.

Shanghai SIPG are reported to be on the verge of breaking the record again with a £60 million transfer ($76 million) swoop for Chelsea's Brazilian midfielder Oscar.

Argentine media reported Thursday that Tevez, 33, could pocket 40 million euros a season -- 20 times what he currently earns at Boca Juniors -- in a two-year deal with Shanghai Shenhua.

Last month, Suning Holdings secured the Chinese broadcast rights of the popular English Premier League for a reported $650 million over three years, in what would be a 12-fold increase on the current deal.

Suning is also a majority stakeholder in Italy's Inter Milan, one of a string of European clubs which have been taken over or attracted investments from Chinese companies.

Source: AFP

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

as football spending tops 1bn as football spending tops 1bn

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

as football spending tops 1bn as football spending tops 1bn

 



GMT 01:42 2017 Friday ,27 October

Dec22/Jan20

GMT 08:19 2017 Friday ,14 April

Nelly Karim in Luxor to stimulate tourism

GMT 11:21 2017 Tuesday ,14 March

Leonard inspires as Spurs draw level with Warriors

GMT 02:00 2017 Tuesday ,17 October

August24th-September23rd

GMT 15:28 2017 Monday ,02 January

Yemen army liberates military post in Saada

GMT 08:31 2017 Monday ,07 August

Surprise Dubai Int. Airport for passengers

GMT 06:59 2017 Thursday ,30 March

Bolivia beat Messi-less Argentina 2-0 in qualifier

GMT 12:30 2017 Tuesday ,21 November

Australia coach Cheika probed

GMT 11:32 2017 Friday ,03 March

F&F at Tesco appoints Publicasity

GMT 09:07 2017 Thursday ,17 August

Ibiza struggles to house locals

GMT 22:10 2016 Monday ,19 December

Palestinian teenager shot dead by Israeli forces

GMT 07:59 2017 Friday ,13 October

Bayern have 'no more excuses'
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday