Chinese state media warns big-spending football clubs to stop ‘burning money’
Transfer madness is unsustainable says People’s Daily in latest sign that government is seriously concerned
Chinese state newspaper The People’s Daily carried another lengthy editorial warning Chinese Super League clubs to stop “burning money” on Monday in the latest sign that the government is seriously worried by out-of-control transfer spending on foreign players.
China’s clubs have shocked world football over the past year by spending ever more incredible amounts to lure players, with the spending ramping up again this month as the transfer window reopened.
Argentine international Carlos Tevez is reportedly being paid as much as €800,000 per week after signing for Shanghai Shenhua, while Brazilian Oscar is reportedly getting €500,000 per week across town at Shanghai SIPG after his €60 million move from Chelsea saw China smash the Asian transfer record for the sixth time in less than a year.
And superstars Lionel Messi and Cristiano Ronaldo have been linked with barely credible bids from Chinese clubs of up to €300 million for their services.
But in recent weeks there have been increasing signs that the authorities are determined to rein in the wild spending.
