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Chinese FA Set To Almost Double Spending In '17 To $98M

The Chinese FA is "set to almost double its spending" in '17 to improve the standards of the game but even the $98M fund "will look pittance compared to what the country's top clubs are splurging on overseas players," according to Sudipto Ganguly of REUTERS. Driven by President Xi Jinping, China is "using its financial clout to invest in prestigious overseas clubs like Inter Milan, and its own teams are spending heavily to coax marquee players into the domestic game." In the latest high-profile transfer, Shanghai SIPG signed Brazilian int'l Oscar from Chelsea "in a deal said to make him the highest-paid player in the world." China has, however, "moved to tighten rules over the number of overseas players in domestic games, amid concerns that the clubs have been over-spending on foreign talent with a rapid growth in the huge fees being paid for high-profile imports." The CFA said that it plans to spend 670M yuan ($98M), an increase of 45% over last year, in '17 "to support the game across the country." Out of that fund, about $27M "will be spent on China's national teams at all levels" while some $18M will reportedly go to youth training. The projected revenue for '17 is 780M yuan ($114M) (REUTERS, 1/18).

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