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China set to shatter transfer records

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China set to shatter transfer records

By Editor

Analysts are piling on superlatives like “biggest” and “hugest” as China prepares to spend astronomical sums on football stars in the winter transfer window. Many say the deals involve more money than sense.

  Carlos Tevez   Last year, Chinese clubs broke Asia’s transfer record four times, surpassing even the wealthy English Premier League. This year, they started early. On Thursday, Shanghai Greenland Shenhua signed Argentine striker Carlos Tevez on a two-year deal. Sources say he will earn about €38 million ($40 million) a season, making him the highest-paid footballer in the world.   The deal followed Shanghai SIPG’s $73 million signing of Chelsea’s Oscar.   “Money in every area of the game is going through the roof,” said David Hornby of the Shanghai-based Mailman Group. “Transfer fees, rights fees, China tours and sponsorship are all rising fast. There’s no reason to think it will slow down.”   Mark Dreyer of China Sports Insider added: “Last year the world was surprised. This year, everyone expects it.”   China struggles on the pitch but excels at buying talent. “Billionaire owners want to outdo each other with big-name players,” said Marcus Luer, CEO of Total Sports Asia.   Rumors now surround almost every global star. Even Cristiano Ronaldo’s agent revealed a Chinese club offered him €100 million a year. “But money isn’t everything,” he said. “They can buy many players, but not Ronaldo.”   Politics over profits   China ranks only 82nd in world football, just below St Kitts and Nevis, but President Xi Jinping dreams of hosting and winning a World Cup. His vision has fueled a flood of investment into Chinese football.   Clubs spend mind-boggling sums, while investors snap up foreign teams and broadcast rights. Yet the economics look shaky. Tickets are cheap, and domestic broadcast rights cost little.   “You can’t make money spending these sums on top players,” Dreyer said. “Revenues won’t cover the costs.”   So why do owners do it? Politics, said Hornby. “There’s a bigger national goal than just strengthening squads.”   Critics say the cash hurts local development. “Clubs pour money into foreign salaries instead of youth academies,” Dreyer warned.   The government has taken notice. This month, the Communist Party’s People’s Daily called the football boom a bubble. It noted that this year’s ¥8 billion ($1.15 billion) spend “far exceeded the league’s economic value.”   Last week, the Chinese Football Association reduced foreign player quotas. “Foreign stars have energized the CSL,” it said, “but they burden clubs and limit opportunities for local players.”  
China

Carlos Tevez

 

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